Asphalt rubber(AR) and desulfurized rubber asphalt(DRA) were prepared, their technical indexes were measured. The microstructure of both desulfurized crumb rubber(DCR) and crumb rubber(CR) were investigated. The results indicate that the viscosity of desulfurized rubber asphalt is far lower than that of asphalt rubber at high temperature, and as it can be prepared at lower temperature than asphalt rubber without peculiar smell, it is environmentally friendly. Desulfurized crumb rubber contains more additives, and more active bonds than crumb rubber. There is less cross linking between the molecules of desulfurized crumb rubber. There is no obvious chemical combination between crumb rubber and asphalt, while chemical combination between desulfurized crumb rubber and asphalt is obvious.