This study has focused on the mechanical performance of porous asphalt mixtures under the laboratory aging and moisture actions. Porous asphalt pavement, due to its relatively high void content, suffers more serious aging and water induced performance deterioration than the low void ones. However, there are very limited studies that consider water and aging effects simultaneously. For this purpose, this study designed a novel apparatus which is capable of applying coupling treatments to asphalt mixtures with varying combinations of aging and moisture conditions. Rutting and fatigue resistance of treated samples were estimated based on the dynamic stability and three-point bending beam fatigue tests. In addition, the variance matrix was carried out to analyze the coupling influence of laboratory aging and moisture. The results indicated that aging plays a positive influence on the rutting resistance of asphalt mixtures at the early stage while further hardening will lead to the deterioration of the adhesion between bitumen and aggregates. The presence of water, to some extent, will hinder the effect of aging due to the starvation of oxygen and the capacity of temperature adjustment. Conversely, the effect of aging does not significantly change the influence of moisture on asphalt mixtures. This study provided a relatively comprehensive case study on the coupling action of laboratory aging and moisture on asphalt mixtures.