Styrene-butadiene-styrene (SBS) is widely used in asphalt modification to obtain superior high-temperature performance. Nevertheless, studies on the low-temperature properties of SBS-modified asphalt are not satisfactory. Orthogonal tests are valid in analysing the results. In this paper, the main factors (SBS content, sulfur content, and the addition of rubber processing oil) for improving the low-temperature performance of SBS-modified asphalt were analyzed base on the orthogonal tests. Firstly, the frequency sweep test, bending beam rheometer (BBR) test, and force-ductility test were conducted to evaluate the low-temperature properties of SBS-modified asphalt. Investigation of low-temperature parameters obtained through these tests was conducted base on the orthogonal analysis method. The G-R parameter was abandoned in the analysis of the orthogonal method for the result that the increase of SBS content was negative to the low-temperature properties by the Glover-Rowe (G-R) parameter, which were contrary to the results of BBR and force-ductility tests. Moreover, the other parameters (ΔTc and toughness) sorted according to the orthogonal analysis method indicated the effect on low-temperature performance of the SBS-modified asphalt as SBS content > rubber processing oil > sulfur. As shown above that both SBS and rubber processing oil play a critical role in improving the low-temperature properties of SBS-modified asphalt, for SBS could resist the generation and subsequent propagation of cracks while the rubber processing oil could supplement the maltene loss.