Traffic status analysis is the basis for highway management and control. Most of the previous research studies were carried out from the perspective of road segments. The purpose of this paper is to analyze the difference in traffic operation characteristics of an eight-lane highway from the perspective of lanes. Lane saturation, average lane speed, and lane density were selected as traffic state evaluation indicators, and the concept of state space division was introduced to classify the traffic operation status of each lane. Then, a single-system multi-index dynamic comprehensive evaluation method was adopted to reflect the time-varying characteristics and the development trend of the operation status of each lane. The research results can provide the theoretical support for more refined highway management and improve the service level of the eight-lane highway.