The conventional test, dynamic shear test and force ductility test were carried out for SBS modified asphalt with different times of aging. The aging processes of SBS modified asphalt were simulated by the thin film oven test for different times. Penetration, softening point, rutting factor and ductility were used as evaluation index to analyze the correlation of the aging degree and SBS content in SBS modified asphalt with these index. The results show that penetration is negatively correlated with SBS content and aging degree of SBS modified asphalt; softening point and rutting factor are positively correlated with SBS content and aging degree of SBS modified asphalt; the toughness index is positively correlated with SBS content while negatively correlated with aging degree of SBS modified asphalt. Only the toughness index can be used as an evaluation index to estimate the aging property of SBS modified asphalt effectively.