Waste engine oil (WEO) as a rejuvenating agent is used to restore aged asphalt of different aging degree and the effect of WEO on the reclaimed properties is investigated. The results indicate that WEO can make the properties of aged asphalt restore. The mixing amount of WEO increases with the aging degree. For the asphalt sample which aged for 5h, 2% of mixing amount can make the penetration, softening point, ductility of aged asphalt restore. For the asphalt sample which aged for 7.5h and 10h, 4% of mixing amount can make the penetration, softening point, ductility of aged asphalt restore. Compared with original asphalt, the construction temperature of regenerating asphalt increase slightly. Adhesion ability between aggregate and asphalt is affected by WEO and anti-stripping materials are expected to be used.