In order to determine if used engine oil and used cooking oil can be used to recycle old asphalt, the impact of these substances on the improvement of the material's physical properties was investigated. Aged asphalt binders with 5 hours of aging were obtained using an indoor test simulation with the Thin Film Oven Test (TFOT) at 163°C. Then, three different dosages of waste engine oil and waste cooking oil were added to investigate performance improvements. The findings clearly demonstrated that waste engine oil and waste cooking oil could effectively soften and recover the workability of aged asphalt. Furthermore, if the content of waste engine oil or waste cooking oil was appropriate, the performance of aged asphalts could be improved to that of virgin asphalt. Overall, the good applicability would provide waste oil with a much broader range of services in the asphalt pavement recycling field. It also provided a method for creating a new rejuvenating agent using the two waste oils to improve the properties of bitumen. Furthermore, it realized waste recycling and environmental protection.