Reclaimed asphalt pavement (RAP) has been widely used in asphalt pavement. However, the fatigue performance of hot-mix asphalt (HMA) with RAP is a critical factor to ensure durability. In this study, fatigue tests using an Overlay Tester (OT) were conducted using a novel load-controlled mode. RAP contents were 0, 25% and 50%, respectively. In the cyclic loading, fatigue life and energy parameters were measured. Results indicated that RAP decreased both the fracture energy and tensile strength. Fatigue life was determined using two methods. RAP was proved to be beneficial in prolonging the fatigue life using the two methods at 25 °C. However, opposite conclusions were made about the effect of RAP on fatigue life at −10 °C. At −10 °C, compared to HMA without RAP, the cumulative dissipated energies decreased by 49.1% and 77.3% when RAP contents were 25% and 50%, respectively. At 25 °C, compared to HMA without RAP, the inclusion of 25% RAP increased the cumulative energy by 31.1%, while 50% RAP decreased the cumulative energy by 41.2%. The developments of the dissipated energy and the cumulative energy were consistent with the fatigue life results determined by the first method.