In China, with the extensive development of pumped storage power stations, asphalt concrete core rockfill dams have become the preferred dam type because of their good deformation adaptability and impermeability. In seismic-prone western regions of China, the seismic safety of asphalt concrete cores is particularly important. However, asphalt concrete materials used in hydraulic engineering exhibit significant differences in their tensile and compressive moduli under low-temperature conditions, which has not been considered in existing constitutive models. In this study, a dynamic constitutive model considering the bimodulus effect of asphalt concrete was developed on the basis of dynamic tension and compression tests. Using this model, the influence of the bimodulus characteristics on the dynamic response of the core was investigated. The results indicate that a bimodulus constitutive model can effectively simulate the stress‒strain relationship of asphalt concrete materials at low temperatures. Compared with the bimodulus model, the use of the monomodulus model for calculations results in a significant decrease in compressive stress and a substantial increase in tensile stress of the core. Specifically, using the tensile and compressive monomodulus models led to maximum reductions in tensile stress of 42.9 % and an increase by 336.8 %, respectively. Neglecting the bimodulus effect may lead to misjudgment of the damage area, so the bimodulus effect on the seismic safety of dam cores should not be ignored.