In order to solve the problem of reduced high temperature performance of Terminal Blend crumb rubber modified asphalt and insufficient dispersion of nanomaterials, highly dispersed active nano-ZnO was used to modify Terminal Blend crumb rubber modified asphalt. Additionally, the performance of the modified asphalt and the dispersibility of the modifier were investigated. Different modified asphalts were prepared and the viscosity-temperature characteristics, viscoelastic characteristics and low temperature creep characteristics of modified asphalts were analyzed. At the same time, the distribution and interaction of modifiers in asphalt were analyzed from the perspective of microstructure and functional groups. The results show that the viscosity-temperature index of the composite modified asphalt decreases by 2.3% after adding highly dispersed active nano-ZnO. Compared with the Terminal Blend crumb rubber modified asphalt, the permanent deformation of the composite modified asphalt is reduced by 57.4%, the creep stiffness modulus is increased by 10.3% and 9.2% at -12 ℃ and -18 ℃, and the low temperature creep rate is reduced by 6.7% ang 4.6%. It can be seen that nano-ZnO improves the high-temperature deformation resistance and temperature sensitivity of Terminal Blend crumb rubber modified asphalt, while the low-temperature performance is reduced, but it can still be applied to the -18 ℃ environment. The addition of highly dispersed active nano-ZnO promoted the dissolution of crumb rubber, and the particle size of crumb rubber in composite modified asphalt decreased. The Terminal Blend crumb rubber in asphalt show chemical modification effect. But the nano-ZnO is manifested as physical filling and promoting the desulfurization and depolymerization of crumb rubber.