The aim of this study was the evaluation and validation of the recyclability potential of asphalt mixtures that incorporate high proportions of by-products (electric arc furnace slag and foundry sand) and reclaimed asphalt pavement in their composition. In a first stage, the performance of these asphalt mixes was assessed using mechanical tests as Marshall, water sensitivity, wheel tracking, stiffness and resistance to fatigue. Then, the samples underwent thermal aging treatment in order to be used as RAP in the manufacturing of new samples. Two rejuvenators were studied to check their effectiveness for the purpose of achieving this aim. Finally, the mechanical performance of these new mixes was evaluated. The results demonstrated a suitable technical performance and a good recyclability of the asphalt mixes used to replace practically all conventional aggregates. However, appropriate design and evaluation of the mixes is required, assessing the binder properties and the mechanical performance of the asphalt mix as well as evaluating its fatigue performance.