This research aimed to examine the adhesion and moisture susceptibility of asphalt concrete, which are crucial for its durability. Three types of asphalt (40–50, 60–70 and 80–100 penetration grade asphalt) were modified with low-density polyethylene (LDPE), hydrated lime (HL) and paraffin wax (PW). These modified asphalts were mixed with lime stone aggregate at optimum dosage. The Rolling Bottle Tests (RBT) were performed to quantify the moisture susceptibility of the asphalt concrete while pneumatic adhesion tensile testing instrument (PATTI) was used to perform the bitumen bond strength (BBS) tests. The images of virgin and modified asphalt concrete samples were taken before and after performing RBT and BBS tests using high resolution cameras. The analysis of images was carried out using MATLAB software. The RBT and BBS tests standards recommend using visual assessment of asphalt area coverage on aggregate surface. Image analysis using MATLAB gives more precise and accurate asphalt coverage area on aggregate. The LDPE modified concrete showed more asphalt area on aggregate surface than others. The results showed that the 40–50 pen asphalt modified with LDPE and HL had higher bond strength (66%) and less moisture susceptibility (19%) compared to the softer grade (60–70 and 80–100 pen) asphalt. The PW-modified asphalt concrete showed less (4%) bond strength and more moisture susceptibility (5%) compared to the virgin asphalt concrete. Asphalt coverage area from visual and MATLAB image analysis were found in variation of frequency distribution from −4% to 16%. Based on the findings of the research it is proposed to use MATLAB image analysis in place of visual inspection for the determination of asphalt coverage on aggregate surface.