[Purposes] This study aims to explore the difference in tension and compression properties for asphalt mixtures. [Methods] The strength and fatigue performances using direct tension and four-point bending tests on a typical asphalt mixture were characterized. Based on the different characteristics of tensile and compressive modulus of the materials, the calculation formula of the real four-point bending strength, which is different from the traditional four-point bending beam, was derived. The strength, fatigue life, and modulus decay law of traditional four-point bending, real four-point bending, and direct tensile stress state were analyzed. [Findings] The results showed that the real four-point bending strength was about 80% of the traditional four-point bending strength. Under the same loading rate, the direct tensile strength was the smallest in different stress states, and its sensitivity to loading rate was the lowest. Under the same stress level, the direct tensile fatigue life was the smallest, but under the same real stress ratio, the direct tensile fatigue life was the largest, and the real four-point bending fatigue life was about 46% of the traditional four-point bending fatigue life. The modulus decay rate of the real four-point bending fatigue test was much lower than that of the direct tensile test, and the former had a smaller modulus decay amplitude at failure. [Conclusions] The material's tension-compression difference characteristics significantly influence the test results of its mechanical parameters. The research results can provide a reference for the design parameters of asphalt pavement structures considering the tension-compression difference.