This research evaluated the effect of reclaimed asphalt pavement (RAP) on the combined overall performance of stone matrix asphalt mixtures in Georgia. Four types of RAP were combined at four levels (0%, 10%, 20%, and 30%) with four aggregate sources, with the use of a one-fourth fraction factorial design. Granite materials common to Georgia were used exclusively in this study for both RAP and virgin aggregate. Testing was performed to evaluate the binder effect on resistance to moisture susceptibility, rutting potential, thermal cracking potential, and fatigue life of the recycled mixtures. The following main findings are applicable only to the RAP and virgin aggregates used in this study. Virgin aggregate had a greater effect on Los Angeles abrasion loss and percent flat and elongated particles than did the addition of RAP. Increasing RAP content resulted in higher tensile strengths (conditioned and unconditioned) for moisture susceptibility testing. Up to 20% RAP can be used without significantly affecting performance. Only fatigue life (at high strain levels) decreased significantly with the addition of 30% RAP. Fine-graded RAP reduced virgin binder requirements, which translates into increased economic benefits. However, mixes are stiffer because they have higher aged-to-virgin binder ratios and may be more susceptible to fatigue cracking. Adding up to 30% RAP had little effect on low-temperature performance grade properties, which may indicate that the grade of virgin binder does not have to be adjusted to provide the desired low-temperature binder properties.