By Peter E. Sebaaly, Dallas N. Little & Jon A. Epps: Comprehensive literature review of the multi-functional benefits of lime in asphalt: reduce stripping and water sensitivity; increase mix stiffness and reduce rutting; diminish oxidation and age-hardening effects; and improve low-temperature cracking resistance. The benefits of lime are demonstrated by laboratory testing, mechanistic-empirical models, field studies, and life cycle analysis. The benefits of lime in recycled asphalt are also presented. (80 pp)