Traditionally, asphalt pavements are considered as linear elastic materials in finite element (FE) method to save computational time for engineering design. However, asphalt mixture exhibits linear viscoelasticity at small strain and low temperature. erefore, the results derived from the elastic analysis will inevitably lead to discrepancies from reality. Currently, several FE programs have already adopted viscoelasticity, but the high hardware demands and long execution times render them suitable primarily for research purposes. Semianalytical finite element method (SAFEM) was proposed to solve the abovementioned problem. e SAFEM is a three-dimensional FE algorithm that only requires a two-dimensional mesh by incorporating the Fourier series in the third dimension, which can significantly reduce the computational time. is paper describes the development of SAFEM to capture the viscoelastic property of asphalt pavements by using a recursive formulation. e formulation is verified by comparison with the commercial FE software ABAQUS. An application example is presented for simulations of creep deformation of the asphalt pavement. e investigation shows that the SAFEM is an efficient tool for pavement engineers to fast and reliably predict asphalt pavement responses; furthermore, the SAFEM provides a flexible, robust platform for the future development in the numerical simulation of asphalt pavements.