The application of waste tires in asphalt pavements can not only effectively reduce resource consumption but also significantly reduce environmental pollution.Crumb rubber could be obtained by processing waste tires and used as a modifier by mixing with asphalt through the wet process to improve the performance of asphalt.This paper reviewed the research progress of rubber-modified asphalt by wet process and discussed its preparation process，influencing factors of performance，and modification mechanism.By reviewing the relevant studies，the critical conditions in the preparation process and their effects on storage stability were summarized.Furthermore，the effects of rubber dosage，particle size，matrix asphalt type，and preparation parameters on the physical and rheological properties of asphalt were analyzed.The interaction mechanism between rubber and asphalt was revealed by spectroscopic analysis and microscopic morphology analysis.In addition，the synergistic enhancement effect of rubber compounded with other modifiers on asphalt properties was explored，which provided a useful reference for the further optimization and application of rubber-modified asphalt by wet process.Finally，the paper proposed future development trends and key research directions of rubber-modified asphalt by wet process in terms of preparation process，performance evaluation，and modification mechanism.