To explore the influence of red mud filler on the road performance of drainage asphalt mixture, this study first selected two domestic high-viscosity modifiers PT-HVA and AR-HVA to prepare high-viscosity modified asphalt. The finished styrene-butadiene-styrene (SBS) modified asphalt was taken as the control, and various asphalt performance tests were carried out on the three kinds of modified asphalt. The results indicate that the best mixing amount of the two modifiers is 15%. Then, three kinds of drainage asphalt mixtures were prepared with the three kinds of modified asphalt as cementing materials, in which the fillers were red mud and mineral powder. The road performance tests of the three kinds of drainage asphalt mixtures were carried out. The results show that the road performance of the mixtures prepared with red mud is good, among which the mixture prepared from AR-HVA high-viscosity modified asphalt and red mud has the best performance with dynamic stability of 11 053 times/mm, residual stability of 91.46%, a freeze-thaw splitting ratio of 89.60%, scattering loss of 5.20%, and an aging coefficient of 24.60%. The flexural tensile strength and strain of the mixtures prepared with red mud are smaller than those of the mixtures prepared with mineral powder. This shows that although red mud can effectively improve the high-temperature performance, water stability, anti-loosening performance, and anti-aging performance of the mixtures, it degrades their low-temperature performance.