To investigate the effect of hot and humid environmental factors on the mechanical properties of asphalt mixtures research, in this paper, the dynamic modulus of asphalt mixtures under the effects of aging, dry-wet cycling, and coupled effects of aging and dry-wet cycling were measured by the simple performance tester (SPT) system, and the dynamic modulus principal curves were fitted based on the sigmoidal function. The results show that under the aging effect, the dynamic modulus of asphalt mixture increases with the aging degree; the dynamic modulus of short-term aged, medium-term aged, long-term aged, and ultra-long-term aged asphalt mixtures increased by 9.3%, 26.4%, 44.8%, and 57%, respectively, compared to unaged asphalt mixtures at 20 °C and 10 Hz; the high-temperature stability performance is enhanced, and the low temperature cracking resistance performance is enhanced; under the dry-wet cycle, the aging effect of asphalt water is more obvious in the early stage, and dynamic modulus of resilience of the mixture is slightly increased. In the long-term wet-dry cycle process, water on the asphalt and aggregate erosion increased, the structural bearing capacity attenuation, and the dynamic modulus of rebound greatly reduced at 20 °C and 10 Hz. For example, the dynamic modulus of asphalt mixtures with seven wet and dry cycles increased by 3% compared to asphalt mixtures without wet and dry cycles, and the dynamic modulus of asphalt mixtures with 14 cycles of wet and dry cycles and 21 cycles of wet and dry cycles decreased by 10.8% and 16.5%, respectively, compared to asphalt mixtures without wet and dry cycles. The main curve as a whole shifted downward; the high-temperature performance decreased significantly; in the aging wet-dry cycle coupling, the aging asphalt mixture is more susceptible to water erosion, and the first wet-dry cycle after the mix by the degree of water erosion is relatively small, along with the dynamic modulus of rebound. The dynamic modulus of resilience is relatively larger, and the high-temperature performance is relatively better, while the low-temperature performance is worse.