Conventional rejuvenating agents such as virgin binders, polymers and so on, poses environmental, technical, and economic challenges. The objective of this study is to investigate the interaction between chemical components and rheological behavior of hot mix asphalt modified with RAP binder and diesel engine waste oil (DEWO) as rejuvenator. 7.2% DEWO was added to the RAP binder to achieve the modified binder (MB), and the effects of the rejuvenator through the MB were evaluated at varying percentages (0 to 100% by weight of the virgin binder) using Dynamic Shear Rheometer (DSR) under short and long-term aging at high and intermediate temperatures, as well as low temperatures using Bending Beam Rheometer (BBR). Saturates, aromatics, resins, and asphaltenes (SARA)-separation, Indirect tensile stiffness modulus test (ITSM), and fatigue life test were also employed to investigate the interaction between chemical components and rheological properties of binder. Results indicated that incorporating 50% modified RAP binder significantly enhanced the performance of the asphalt mixtures, it was also discovered that 100% of RAP content meets standard specifications when modified with oil rejuvenators. This research suggests that large quantities of diesel engine waste oil can be diverted from landfills and employed as useful resource in asphalt production.