This paper aims to study the preparation and viscoelastic properties of asphalt binder modified by tetrahydrofuran soluble fraction (THFS) extracted from direct coal liquefaction residue. The modified asphalt binders, which blended with SK-90 (control asphalt binder) and 4%, 6%, 8% and 10% THFS (by weight of SK-90), were fabricated. The preparation process for asphalt binder was optimized in terms of the orthogonal array test strategy and gray correlation analysis results. The properties of asphalt binder were measured by applying Penetration performance grade and Superpave performance grade specifications. In addition, the temperature step and frequency sweep test in Dynamic Shear Rheometer were conducted to predict the rheological behavior, temperature and frequency susceptibility of asphalt binder. The test results suggested the optimal preparation process, such as 150 • C shearing temperature, 45 min shearing time and 4000 rpm shearing rate. Subsequently, the addition of THFS was beneficial in increasing the high-temperature properties but decreased the low-temperature properties and resistance to fatigue. The content analysis of THFS showed the percentage of 4~6% achieved a balance in the high-and-low temperature properties of asphalt binder. The asphalt binder with higher THFS content exhibited higher resistance to rutting and less sensitivity to frequency and temperature.