The demand for more sustainable solutions has led an ever-growing number of stakeholders to being committed to pursue the principles of sustainability in pavement management. Different stakeholders have been looking for tools and methodologies to evaluate the environmental impacts of the solutions, for which the life cycle assessment (LCA) proved to be an appropriate methodology. This paper is focused on the LCA of road pavement multi-recycling based on the use of bituminous mixtures with high rates of reclaimed asphalt pavement (RAP). In order to promote the circular economy, a comparative analysis was performed on a road pavement section by taking into account different scenarios, which stem from the combination of production, construction and rehabilitation activities incorporating different RAP rates in new bituminous mixtures: 0% (as reference), 25%, 50%, 75% and 100%, respectively. LCA results have been expressed in terms of four damage categories: human health, ecosystem quality, climate change and resources. Results have shown that both recycled and multi-recycled bituminous mixtures lead to substantial benefits in comparison with the solution employing virgin materials, hence embodying a sustainable approach. The benefits grow with the increase in the RAP rate with an average decrease of 19%, 23%, 31% and 33% in all the impact categories for a 25%, 50%, 75% and 100% of RAP rate.