In this study, the effects of polyvinyl chloride (PVC) and nano silica (NS) as modifiers on the properties of stone matrix asphalt (SMA) were studied. The experiment was performed with five modes: 1% NS was mixed into SMA; 5% PVC was mixed into SMA; and the ratio of NS was changed (1, 2, and 3%) with 5% PVC being mixed into SMA. The properties of modified and unmodified SMA materials were determined and compared by performing the penetration test, softening points test, viscosity measurements, dynamic shear rheometry, and multiple stress creep recovery under aging conditions. Moreover, the properties of the modified SMA were also determined in terms of Marshall stability, water stability, and rutting resistance. The obtained results indicate that the physical properties of SMA materials could be significantly improved by using a combination of PVC and NS as a modifier. Moreover, the SMA mixtures modified with PVC and NS exhibited high Marshall stability, good moisture damage resistance, and rutting resistance. Modified SMA mixtures with 5% PVC and 1% NS exhibited the best quality. This research has opened up a new avenue for the development of effective additives for SMA materials.