A series of laboratory tests was conducted to evaluate the moisture susceptibility of asphalt mixtures, including moisture damage of asphalt-aggregate bond, and the influence of water immersion on the properties of asphalt mixtures. Furthermore, the effectiveness of various anti-stripping additives was investigated through a variety of tests. It was found that both the asphalt and aggregate types have dominating influences on the moisture susceptibility of asphalt mixtures; hydrated lime slurry is an effective anti-stripping additive for improving the moisture susceptibility; and the net adsorption test, Lottman test and immersed wheel tracking test are effective tools to evaluate the moisture susceptibility.