Asphalt pavement accounts for ~87% of the overall pavement in Korea. However, owing to the black surface and extensive cover area, the ambient temperature rapidly increases, thereby contributing to the urban heat island effect. Therefore, pavement materials with modified porosity and pavement surface conditions have been developed; however, studies on the heat-related characteristic values of such pavement materials are insufficient. In this study, the thermal characteristics of pavement materials were evaluated with regard to the urban heat island effect. Test specimens such as WC-2 and PA-13, i.e., polymer-binder-used mixture, were compressed using a Gyratory Compactor. The thermal characteristics, i.e., thermal conductivity, specific heat capacity, thermal diffusivity, and thermal emissivity, were studied, and a heat accumulation test was performed. The water-permeable polyurethane concrete mixture (polymer-binder-used mixture) exhibited ~4% lower thermal emissivity than the conventional asphalt mixture, and according to the analysis of the change in thermal conductivity based on heat accumulation, it was confirmed that the rate of the heat energy transfer effect was ~20% slower than that of the asphalt mixture. The study results provide essential information for the analysis and design of energy harvesting and freeze-thaw pavement-related systems.