Nanomaterials enhance the performance of both asphalt binders and asphalt mixtures. They also improve asphalt durability, which reduces resource consumption and environmental impact in the long term associated with the production and transportation of asphalt materials. Thus, this paper studies the effectiveness of Nano Calcium Carbonate (Nano CaCO3) and Nano Hydrated Lime (NHL) as modifiers and examines their impact on ranges from 0% to 10% through comprehensive laboratory tests. Softening point, penetration, storage stability, viscosity, and mass loss due to short-term aging using the Rolling Thin Film Oven Test (RTFO) were performed on asphalt binders. Results indicated a significant improvement in binder stiffness, particularly at 4% Nano CaCO3 and 6% NHL content by weight. Dynamic Shear Rheometer (DSR) tests further revealed substantial improvements in rutting resistance, with NHL exhibiting superior high-temperature stability and a notable increase in the rutting factor. Marshall stability tests on asphalt concrete (AC) mixtures showed a 22.3% increase in stability with 6% NHL by weight, surpassing the 20.2% improvement observed with Nano CaCO3 and indicating enhanced load-bearing capacity. The resilient modulus of the mixtures consistently increased with the addition of NHL, suggesting improved durability in rutting. Moisture susceptibility tests revealed that NHL significantly enhances moisture resistance, exceeding the 80% TSR benchmark at just 2% content by weight and reaching an impressive 94.6% at 10% content by weight. In contrast, Nano CaCO3 demonstrated a more gradual improvement, achieving an 88.2% TSR at 10% content. Furthermore, permanent deformation analysis indicated a 68.64% improvement in rutting resistance with 10% NHL content by weight, exceeding Nano CaCO3’s improvement rate. Optimal fatigue resistance was achieved at 4% for Nano CaCO3 and 6% for NHL by weight, with respective CT index improvements of 30% and 35.4%, showing NHL’s consistent benefits across various nanomaterial contents. Overall, the study suggests that both Nano CaCO3 and NHL positively impact asphalt performance, with NHL offering more pronounced benefits across a range of properties. These findings provide valuable insights for pavement engineers and underscore NHL’s potential as an effective additive in asphalt mixture design. Real-world applications and validations are essential for a comprehensive understanding of these nanomaterials in practical pavement engineering scenarios.