This study aimed to address the issue of high-temperature challenges in asphalt pavement by developing two types of phase change materials (PCMs) for temperature control. Encapsulated paraffin wax particles (EPWP) and encapsulated myristic acid particles (EMAP) were synthesized using acid-etched ceramsite (AECS) as the carrier, paraffin wax (PW) or myristic acid (MA) as the core material, and a combination of epoxy resin and cement as the encapsulation material. The investigation encompassed leakage tests on PCMs; rutting plate rolling forming tests; SEM, FTIR, XRD, and TG-DSC microscopic tests; as well as heat storage and release tests and temperature control assessments using a light heating device. The study revealed the following key findings. Both types of PCMs exhibited no PCM leakage even under high temperatures and demonstrated low crushing ratios during rut-forming tests. Microscopic evaluations confirmed the chemical stability and phase compatibility of the constituents within the two types of PCMs. Notably, the phase change enthalpies of EPWP and EMAP were relatively high, measuring 133.31 J/g and 138.52 J/g, respectively. The utilization of AECS as the carrier for PCMs led to a substantial 4.61-fold increase in the adsorption rate. Moreover, the PCMs showcased minimal mass loss at 180 °C, rendering them suitable for asphalt pavement applications. The heat storage and release experiments further underscored the PCMs' capacity to regulate ambient temperatures through heat absorption and release. When subjected to light heating, the maximum temperatures of the two types of phase change Marshall specimens were notably lower by 6.6 °C and 4.8 °C, respectively, compared to standard Marshall specimens. Based on comprehensive testing, EPWP displayed enhanced adaptability and demonstrated substantial potential for practical implementation in asphalt pavements.