In order to simulate the on-site compaction conditions of a Stone Matrix Asphalt (SMA) mixture, The Vertical Vibration Testing Method (VVTM), Superpave Gyratory Compactor (SGC), and Marshall method are used to test the SMA-13 mixture, and the physical and mechanical properties of the asphalt mixture designed by these three methods are tested. Subsequently, the influences of the molding method on the mechanical properties are compared. The influence of vibration compaction time on the volume parameters of the SMA mixture is studied. Following the heavy traffic compaction standards, the vibration compaction time of the SMA mixture is determined. The results show that the densities of the heavy Marshall specimen, VVTM specimen, and SGC specimen are 1.018 times, 1.019 times, and 1.015 times greater than that of the standard Marshall specimen, respectively. The passing rate of the 4.75 mm aggregate of the standard Marshall specimen is 29.9%, and that of the VVTM specimen and SGC specimen is 31.1% and 30.5%, respectively, while that of the heavy Marshall specimen is 34.5%. The mechanical strength of the specimen can be greatly improved as the density increases. On the other hand, by the same compaction work, the mechanical strength of the VVTM specimens can be increased by at least 7% compared with the heavy Marshall specimen. The mechanical strength of the VVTM specimen is increased by at least 22% compared with the standard Marshall specimen. The results also show that under the optimal asphalt-aggregate ratio and the same compaction work, the compressive strength and shear strength of the VVTM specimens are increased by at least 6% and 9%, respectively, compared with the Marshall specimens. In summary, the performance of the asphalt mixture designed by the VVTM is superior, providing a wider choice for future asphalt mixture design.