The deteriorating ecological environment and the concept of sustainable development have highlighted the importance of waste reuse. This article investigates the performance changes resulting from the incorporation of shellac into asphalt binders. Seashell powder-modified asphalt was prepared with 5%, 10%, and 15% admixture using the high-speed shear method. The microstructure of the seashell powder was observed by scanning electron microscope test (SEM); the physical-phase analysis of the seashell powder was carried out using an X-ray diffraction (XRD) test; the surface characteristics and pore structure of shellac were analyzed by the specific surface area Brunauer-Emmett-Teller (BET) test; and Fourier infrared spectroscopy (FTIR) qualitatively analyzed the composition and changes of functional groups of seashell powder-modified asphalt. The conventional performance index of seashell powder asphalt was analyzed by penetration, softening point, and ductility (5 °C) tests; the effect of seashell powder on asphalt binder was studied using a dynamic shear rheometer (DSR) and bending beam rheometer (BBR) at high and low temperatures, respectively. The results indicate the following: seashell powder is a coarse, porous, and angular CaCO3 bio-material; seashell powder and the asphalt binder represent a stable physical mixture of modified properties; seashell powder improves the consistency, hardness, and high-temperature performance of the asphalt binder but weakens the low-temperature performance of it; seashell powder enhances the elasticity, recovery performance, and permanent deformation resistance of asphalt binders and improves high-temperature rheological properties; finally, seashell powder has a minimal effect on the crack resistance of asphalt binders at very low temperatures. In summary, the use of waste seashells for recycling as bio-modifiers for asphalt binders is a practical approach.