In view of the lack of high temperature stability and water damage resistance of cold recycling mixture with foamed bitumen(CRMFB), waterborne epoxy resin(WER) was used to modify it. The effects of mixing method, WER dosage, storage time and storage temperature on the performance of the CRMFB were studied in detail. The results show that the best mixing method of WER is to add it into the mixing water first, and then into mixing pot together with mineral materials. The performance of the CRMFB is improved by forming a high viscosity thermosetting slurry with loose fine aggregate and “locking” molecules of bitumen molecules with curing products. The water damage resistance and high temperature stability of graded S and graded Z mixtures are improved. It is recommended that CRMFB should be transported from the mixing plant to the site for paving and compaction within 45min. No matter the working temperature is low or high, the transportation time should be controlled within 30min.