The focus of this paper is on the performance of a semi-flexible pavement mixture and AC-16 asphalt concrete. Semi-flexible mixtures were prepared using aggregates meeting the lower limit, middle value, and upper limit of the gradation curves of the mother mixture. The indirect tensile test and the low temperature bending test were used to investigate the low temperature performance of both mixtures. Brittle point temperatures and strain energy density indexes were determined. The results showed that the semi-flexible pavement mixture had excellent low temperature crack resistance compared with the AC-16 styrene-butadiene-styrene (SBS) modified asphalt concrete. Also, the high temperature stability, low temperature crack resistance, and water stability of the crumb rubber modified semi-flexible pavement were studied in the laboratory and compared with the AR-AC-16 asphalt concrete with asphalt-rubber. Finally, a test pavement was constructed. Both laboratory tests and the test pavement showed that the semi-flexible pavements with asphalt-rubber give excellent performance. Such pavements have good prospects for application, especially for service as a surface course on pavements with heavy traffic.