The wetting performance of asphalt emulsion on reclaimed asphalt pavement (RAP) strongly affects the physical bonding ability of asphalt emulsion-RAP interface. For a more comprehensive understanding on the wetting performance of asphalt emulsion on RAP, many factors affecting the wetting performance of asphalt emulsion on RAP are studied, including the asphalt and emulsifier dosage in asphalt emulsion, RAP asphalt aged degree, and some additives (such as wetting agent, hydrated lime and silane coupling agent). The contact angle of asphalt emulsion on RAP asphalt surface and the other wetting parameters calculated by the surface wetting theory were used to comprehensively analyze the wetting performance. The results show that all of the tested factors have influence on the wetting performance of asphalt emulsions. The grey relational analysis indicates that the wetting agent, hydrated lime and silane coupling agent have significant effects on the wetting performance of asphalt emulsion on RAP. A suitable dosage of wetting agent, hydrated lime modified with silane coupling agent (HL-SCA) can decrease the contact angle and improve the wetting speed of asphalt emulsion on RAP. Meanwhile, the addition of both wetting agent and hydrated lime modified with silane coupling agent can greatly decrease the volume of air voids and improve the indirect tensile strength of cold recycled mixture with asphalt emulsion. Therefore, the wetting agent and the HL-SCA are recommended to improve the wetting performance of asphalt emulsion on RAP and the mechanical performance of cold recycled mixture with asphalt emulsion.