Disclosed herein is a warm mix asphalt additive comprising (a) a wax; (b) a phosphoric ester; and (c) a fatty amine. Preferably component (a) is a fatty amide wax and component (b) is a C16-C18 alkyl phosphoric ester. Also disclosed is a warm mix asphalt binder composition comprising asphalt and a warm mix asphalt additive, and methods for its preparation thereof. Additionally disclosed is a warm mix asphalt composition comprising a warm mix asphalt binder and aggregate, and methods for its preparation thereof.