Crumb rubber (CR) manufactured from waste tires used in bitumen could improve bitumen performance and reduce environmental pollution. In this work, three different modification methods, pretreatment of the CR particles (microwave activation), warm mix additive (Sasobit), and trans-polyoctenamer (TOR) were used to improve the compatibility of CR with bitumen. Moreover, two other specimens, Sasobit and microwave activated and TOR and microwave activation were fabricated, and their performance was investigated. The softening point, elastic recovery, force ductility, rotational viscosity, temperature sweep, frequency sweep, and multiple stress creep and recovery (MSCR) tests were measured to evaluate the physical and rheological properties of rubberized bitumen. The results showed that TOR improved the physical properties of rubberized bitumen significantly but had a negative effect on the viscosity. Sasobit decreased the viscosity of rubberized bitumen considerably and improved the physical properties of rubberized bitumen moderately. Microwave treatment on CR had a negative effect on the high temperature performance and elastic recoverability of rubberized bitumen, however, attributing to the degradation and devulcanization effect of microwave on CR, the viscosity of rubberized bitumen was improved. From the results of composite modification, the influence of TOR on the performance of rubberized bitumen was more obvious than that of the microwave activation treatment. Moreover, the influence of Sasobit on its performance was less than that of the microwave activation treatment.