Natural resources are declining due to rising infrastructure, renovation, demolition, and recycling of existing structures that necessitate sustainable development. It urges the researchers to modify the aged asphalt binder in the recycling to enhance the performance life of asphaltic pavements. The aim of this research study is to reutilize recycled materials through rejuvenation. This study utilizes the Cereclor to rejuvenate the aged binder collected from recycling and explore its transformation by comparing it with parent binder of similar grade. Different types of tests, such as basic physical properties, saturates, aromatics, resins, and asphaltenes (SARA) analysis for the fractional composition, bending beam rheometer (BBR), and dynamic shear rheometer (DSR) for rheological properties are applied to investigate these properties and effect on the performance. The results show that rejuvenator improved the fractional composition of the aged asphalt binder. It significantly improved the physical properties of the binder. The asphaltene contents are reduced up to 18% in the fractional composition through the addition of the optimum dosage (7.5%) of the rejuvenator. The colloidal instability index was decreased from 0.74 to 0.43 value by changing its unstable to stable colloidal structure. In addition, rejuvenator improved the rheological properties at a wide range of temperatures. The rejuvenator has the potential to soften the aged binder through optimum dosage (7.5%), as indicated in the results of fractional composition, colloidal structure, and rheological properties. Furthermore, it has been concluded that it can be utilized as a rejuvenator in the recycling industry to resolve the recycled materials disposal issues and lead to promote sustainable development.