In order to enhance the cracking resistance of asphalt treated permeable base (ATPB) and improve its durability, an ATPB mixture using SBS modified asphalt as cementing material and adding lignin fiber was designed (FATPB). Four point bending fatigue tests were carried out on the beam specimens of FATPB-25 with different fiber content under different stress ratios. The fatigue properties of FATPB-25 with 0.3% fiber content were compared with those of AC-25 and ATB-25, and the effects of stress ratio and fiber content on fatigue life considering failure probability were investigated. The results show that the fatigue resistance of FATPB-25 with 0.3% fiber content is obviously better than that of AC-25 and ATB-25, which can be used as a durable water-permeable underlayer or flexible base layer. The fatigue life of FATPB-25 can be expressed by the log-log equation with failure probability.