The invention discloses a novel asphalt pavement modifier. The novel asphalt pavement modifier comprises the following raw materials in parts by weight: an asphalt material, epoxy resin, mineral fiber, alpha-olefin and cis-butenedioic acid copolymer, ethyl acetate, a free radical scavenger, organic bentonite, and hollow polymer microspheres, wherein mutual invasion diffusion is generated between the asphalt material and the high-molecular polymer, asphalt molecules are filled in gaps of macromolecules of the polymer, meanwhile certain chain links of polymer molecules are diffused into the asphalt molecules to form a crosslinked reticular structure with good lipophilicity, oil molecules can be constrained in the crosslinked reticular structure and used for synergetic enhancement by virtue of the mineral fiber, the free radical scavenger and the organic bentonite, and then free asphalt is reduced to enable an asphalt film to be in a relatively stable state, and enhance adhesive cement viscosity, so that the softening point and needle penetration of asphalt can be increased, the high-temperature dynamic stability can be enhanced, the rutting resistance can be enhanced, and the generation of cracks under the condition of low temperature is reduced, meanwhile the bond stress is improved by enhancing the adhesion of asphalt adhesive cement so as to improve the water stability. Therefore, the modifier used for asphalt pavement disclosed by the invention has the characteristics of good high-temperature stability and aging resistance, excellent low-temperature crack resistance, good elastic effect, and long service life, does not move outwards in summer or become crisp in winter, and is adapted cold areas with temperature difference.