The compressive and tensile moduli of asphalt mixtures are not equal. As a result, in order to obtain reasonable response calculation results, asphalt pavement mechanical analysis should first determine the compressive and tensile moduli of asphalt mixtures separately. Then, it should assign an appropriate modulus to the FEM element based on the stress state of the element. However, conventional uniaxial compression modulus testing protocol is typically unable to determine the actual asphalt pavement's coring specimen due to the limitation that general dynamic modulus testing protocol requires a larger size of specimen and conventional coring specimen from field usually cannot meet the requirement in regard to specimen size. In this case, the dynamic modulus of the asphalt mixture can only be ascertained using the IDT test method.Nevertheless, the current IDT test protocol is unable to distinguish between the compressive and tensile moduli of asphalt mixtures, and the testing results are usually different from those obtained by using the conventional uniaxial compression or tension method. This is because the current IDT test method for determining the dynamic modulus of asphalt mixtures generally treats asphalt mixtures as a kind of ideal elastic material and considers its compressive modulus is equal to its tensile modulus.Consequently, this paper presents a new theory, based on Ambartsumyan's bi-modulus constitutive relation theory, that can use the IDT test method to simultaneously determine the dynamic modulus of an asphalt mixture in both compression and tension. This theory assumes that the stress-strain relationship of asphalt mixture complies with the bi-modulus constitutive relation, and obtains the vertical deformation or horizontal deformation of the IDT specimen by solving a definite integral for the displacement of a small segment on the vertical or horizontal axis, which utilizes the results of the mathematical analysis of the stress distribution of the IDT specimen under distributed strip load. Then, the specimen's dynamic modulus in compression and tension can be obtained via back-calculating method, if the specimen's vertical and horizontal displacement are measured by a physical test in the lab. Obviously, this theory addresses the limitation of the conventional IDT method that cannot reflect the distinction of compressive modulus with tensile modulus, and can be better utilized to simultaneously determine compressive and tensile modulus of cored specimen from field. The verification test also demonstrates, the dynamic modulus determined by this theory are in line with the results of the conventional uniaxial test and is highly practicable.