Warm mix asphalt (WMA) technology, taking advantage of reclaimed asphalt pavements, has gained increasing attention from the scientific community. The determination of technical specifications of such a type of asphalt concrete is crucial for pavement design, in which the asphalt concrete dynamic modulus (E*) of elasticity is amongst the most critical parameters. However, the latter could only be determined by complicated, costly, and time-consuming experiments. This paper presents an alternative cost-effective approach to determine the dynamic elastic modulus (E*) of WMA based on various machine learning-based algorithms, namely the artificial neural network (ANN), support vector machine (SVM), Gaussian process regression (GPR), and ensemble boosted trees (Boosted). For this, a total of 300 samples were fabricated by warm mix asphalt technology. The mixtures were prepared with 0%, 20%, 30%, 40%, and 50% content of reclaimed asphalt pavement (RAP) and modified bitumen binder using Sasobit and Zycotherm additives. The dynamic elastic modulus tests were conducted by varying the temperature from 10 °C to 50 °C at different frequencies from 0.1 Hz to 25 Hz. Various common quantitative indications, such as root mean square error (RMSE), mean absolute error (MAE), and correlation coefficient (R) were used to validate and compare the prediction capability of different models. The results showed that machine learning models could accurately predict the dynamic elastic modulus of WMA using up to 50% RAP and fabricated by warm mix asphalt technology. Out of these models, the Boosted algorithm (R = 0.9956) was found as the best predictor compared with those obtained by ANN-LMN (R = 0.9954), SVM (R = 0.9654), and GPR (R= 0.9865). Thus, it could be concluded that Boosted is a promising cost-effective tool for the prediction of the dynamic elastic modulus (E*) of WMA. This study might help in reducing the cost of laboratory experiments for the determination of the dynamic modulus (E*).