This study delves into the transformative effects of Trinidad Lake Asphalt (TLA) on asphalt binders, revealing significant improvements in various performance metrics. Our findings indicate that TLA substantially increases binder viscosity and enhances rutting resistance, as evidenced by elevated G*/sin δ values in both original and RTFO-aged states. TLA-modified binders demonstrate superior rheological properties, including improved Jnr and percentage recovery, indicating enhanced resistance to permanent deformation and reduced fatigue cracking. However, an increase in TLA content correlates with higher G*·sin δ values, suggesting a trade-off with fatigue resistance and a higher susceptibility to cracking. Additionally, while TLA initially improves binder flexibility at low temperatures, excessive content can increase stiffness, adversely affecting stress relaxation properties. Notably, TLA enhances storage stability, ensuring minimal phase separation and excellent homogeneity. These insights underscore the need for the precise control of TLA content to optimize pavement durability. Future research should focus on fine-tuning TLA incorporation with additives like crumb rubber to maximize the structural integrity and longevity of asphalt pavements.