An asphalt processing system is formed from a heating chamber, a transfer system and an induction heating system. A plurality of paddles, conveyor flights, or conveyor belts having a U-shaped blade move the asphalt through the system while concurrently mixing the material to ensure consistent temperatures through the asphalt cement. The asphalt is heating using one or more induction heating systems to quickly heat the asphalt to between 300° F. and 350° F. The system can include a convection system designed to collect air from the heating chamber, further heat it, and recirculate the air to enhance the asphalt heating. A water condenser can be employed to remove moisture during air recirculation, reducing moisture content in the asphalt cement. The asphalt cement is optionally then modified by addition of one or more rejuvenation oils. This system is particularly useful for recycled asphalt pavement, but can be used for all asphalt products.