This article simulated three mortar systems including mineral filler⁃asphalt,mineral filler⁃emulsified asphalt residue and cement⁃emulsified asphalt residue in cold recycled mixture with emulsified asphalt. The results show that cement⁃emulsified asphalt residue mortar owns higher modulus than the other two mortars because of cement hydration. The change of modulus and phase angle is different from that of ordinary mineral powder⁃asphalt mortar and mineral powder⁃emulsified asphalt mortar, and does not change linearly monotonously with powder⁃to⁃binder ratio. At the same time, the interface adhesive ability of cement⁃ emulsified asphalt residue is similar to that of the mineral filler⁃asphalt mortar, and much higher than that of the mineral filler⁃emulsified asphalt residue mortar in a lower filler dosage. In the process of mixture production, emulsified asphalt provides the initial stability of the mixture, and cement hydration and the formation of composite mortar system are the guarantee of the final cold recycled mixture strength.