The main objective of this research study is the performance evaluation of 40/50 and 60/70 binder for asphalt mixtures in Vietnam. To accomplish the objective of this research, a dense gradation with nominal maximum aggregate size of 19.0mm is used for the asphalt mixtures. Marshall Stability (MS) test, Tensile Strength Ratio (TSR) test, Wheel Tracking (WT) test, and Dynamic modulus test are conducted to evaluate the rutting and cracking performance of 40/50 and 60/70 binder in asphalt mixtures. It was found that the Marshall stability of asphalt mixtures using 40/50 binder is about 12% higher than asphalt mixtures using 60/70 binder while the rutting resistance of the mixtures with 40/50 binder shows 2.5 times higher than 60/70 binder at 15,000 load cycles. Moreover, the TSR of asphalt concrete using 40/50 binder and 60/70 binder are approximately 95% and 79%, respectively which means that using 40/50 binder is very good for moisture damage resistance. Finally, the dynamic modulus test was done at a reference temperature of 20oC and frequency of 1,0Hz. The dynamic modulus of asphalt mixture with 40/50 binder is about 6257 MPa, which is two times higher than asphalt mixture using 60/70 binder. Based on the results of this study, it can be concluded that asphalt mixtures using 40/50 binder can improve the rutting and moisture damage resistance of asphalt concrete under high temperatures and moisture conditions significantly. It is noted that these conclusions were based on only on a limited number of samples and conditions. Further studies must be conducted to investigate the effect of 40/50 binder on fatigue cracking of asphalt pavement in the field.