Aging can significantly affect the performance of asphalt mixtures, causing increase in stiffness, reduction in relaxation capability and increase in cracking susceptibility. It is also well known that fundamental viscoelastic properties are used for design and modelling of asphalt mixtures and pavement structures to addressing rutting, fatigue and thermal cracking concerns. The objective of this paper is to study how the viscoelastic properties of asphalt mixture change over time, and evaluate and identify the cracking and aging susceptibility of asphalt mixtures with different mix variables during material selection and mixture design. Ten mixtures are evaluated using different laboratory conditioning protocols to simulate a range of aging levels in the field. The complex modulus test is then conducted on the lab aged mixtures to measure the viscoelastic properties in order to construct the dynamic modulus and phase angle master curves. The mixture Glover-Rowe (G-Rm) parameter and the shape parameters of the dynamic modulus and phase angle master curves, including inflection point frequency (−β/γ), difference between the glassy modulus and the inflection point modulus (γ), peak value of phase angle (a) and the horizontal position (frequency) of the peak phase angle value (c), are determined and evaluated for the mixtures with different aging conditions and mix variables. The study indicates the ability of the G-Rm parameter and all the master curve shape parameters to capture the effect of different aging conditions on linear viscoelastic mixture properties, as well as the cracking and aging susceptibility of asphalt mixtures. •Rheological parameters can capture the cracking and aging susceptibility of asphalt mixtures.•Mixtures with higher initial relaxation capability and better cracking performance have the tendency to age more severely.•The G-Rm parameter can be used as a performance index to indicate the propensity for crack initiation of asphalt mixtures.