Today's sustainability-driven systems require a product or process to be environmentally beneficial as well as cost-effective. This study used life-cycle cost analysis (LCCA) and life-cycle assessment (LCA) to consider the economic and environmental feasibility of using a high content of reclaimed asphalt pavement (RAP) in asphalt mixtures. The LCCA conducted in the study incorporated agency cost as well as the costs incurred by the user in the construction work zone. Initial construction as well as future maintenance and rehabilitation activities were considered in the analysis. The hybrid LCA took into account the material, construction, and maintenance and rehabilitation phases of the pavement life cycle. The results showed savings in terms of costs and energy use and reduction in greenhouse gas emissions with an increase in RAP content. On the basis of the LCCA and LCA performed under various performance scenarios, break-even performance levels were identified for mixtures with up to 50% RAP content. Break-even performance levels underscored the importance of achieving field performance for recycled mixtures equivalent to that for control virgin mixtures.