In order to improve the compatibility between rubber powder and matrix asphalt, the rubber powder was modified by microalgae bio?oil and compounded with SBS at 5% dosage to prepare modified asphalt. The changes of rubber powder before and after modification were analyzed by infrared spectroscopy and scanning electron microscopy; the dispersion of rubber in asphalt before and after modification was analyzed by viscosity, fluorescence and phase separation tests, and the mechanical properties and aging resistance of the modified asphalt were analyzed by dynamic shear rheology analysis and multiple stress creep recovery test. It was found that the incorporation of MB increased the proportion of light components in the mixing system, promoted the solubilization development of CR in asphalt, and improved the storage stability, viscoelasticity and rutting resistance of the modified asphalt.