Middle beam specimens were made under static pressure and four point bending tests were carried out to research fatigue performance of cement stabilized macadam with different emulsified asphalt contents, the fatigue equations of emulsified asphalt cement stabilized macadam were established based on Weibull distribution. According to the results, the emulsified asphalt makes the flexural tensile strength of cement stabilized macadam decrease slightly, but ultimate flexural tensile deformation and deformation work of mixtures increase significantly. The fatigue life of mixtures increases greatly under lower stress level, and approximately stays the same under higher stress level. So emulsified asphalt could effectively improve the flexural tensile strength and fatigue performance of cement stabilized macadam.