To conserve non-renewable petroleum-based asphalt resources and address the limitations of incorporating high-content waste crumb rubber (CR) in conventional crumb rubber modified asphalt (CRMA), this study examines the feasibility of utilizing waste cooking oil desulfurized crumb rubber (ODR) in conjunction with CR to prepare high-content rubberized asphalt (HCRA). The basic, chemical, rheological, and asphalt-aggregate adhesion properties of HCRA, both with and without a small quantity of styrene-butadiene-styrene (SBS) copolymer modifier, were evaluated using infrared spectroscopy (FTIR), dynamic shear rheometer (DSR), bending beam rheometer (BBR), asphalt-aggregate pull-off test, contact angle test, and atomic force microscopy (AFM). The results showed that the modification involving ODR and CR primarily constitutes a physical process, rather than a chemical reaction, as evidenced by the lack of new functional groups. Similarly, the addition of an SBS modifier predominantly results in physical modifications accompanied by minor chemical interactions. The improved desulfurization degree of ODR diminishes the elastic stiffening effect of CR on the matrix asphalt at the high-temperature (low-frequency) domain and reduces adhesion properties between HCRA and aggregates, while enhancing the flexibility of HCRA at the low-temperature (high-frequency) domain. The inclusion of a small quantity of SBS modifier allows HCRA to demonstrate high-temperature performance and adhesion properties on par with CRMA, alongside superior low-temperature stress relaxation, phase stability, storage stability, and water damage resistance. These attributes indicate that the HCRA with a small quantity of SBS modifier has a broader service temperature range compared to CRMA. This study achieves approximately 33.3 % replacement of asphalt materials while preserving the performance of rubberized asphalt.