Induction healing technology can effectively repair microcracks in asphalt mixtures and is a promising maintenance technology for asphalt pavements. However, it requires the addition of steel wool fibers to asphalt mixtures and cannot be directly used to repair existing pavements. In order to improve the practicality of the induction healing technology, this article designs a wearing course asphalt mixture with induction healing function that is going to be paved above the existing road surface. The AC-10 asphalt wearing course for induction heating was prepared by adding steel fiber (SF). Analysis of the overall temperature of the surface revealed the unevenness of the temperature distribution, and the healing properties were investigated through protective heating that controlled the maximum temperature of the upper surface. The results show that the addition of SF can improve the high-temperature stability, low-temperature and intermediate-temperature crack resistance, and moisture stability of asphalt wearing courses; however, it has adverse effects on volumetric performance and skid resistance. The heating temperature increases with the increase in SF content, but higher maximum temperature heating rate causes worse heating uniformity and lower healing effect. The maximum heating rate of the sample with 10% SF reaches 3.92 °C/s, while its heating rate at minimum temperature is similar to that of the sample with 6% SF, which is only 0.7 °C/s, indicating the worst heating uniformity. The best healing effect occurs when the maximum temperature of the upper surface reaches 160 °C. The recommended optimal SF content is 6% of the asphalt volume. The asphalt mixture with 6% SF has an appropriate volume performance, moisture stability, and skid resistance; additionally, it has the best high-temperature stability, as well as low-temperature and intermediate-temperature crack resistance. Meanwhile, it also has uniform temperature distribution and efficient healing efficiency.