RAP material (recycled asphalt mixture) performance analysis is a key step in the asphalt pavement thermal regeneration technology. The analysis of the asphalt content in the RAP material can determine the amount of recycling agent. The analysis of the gradation can determine the gradation and performance of the new asphalt mixture. Through theoretical analysis and experimental comparison, the advantages and disadvantages of centrifugal extraction method and combustion method are compared. The method suitable for analyzing the asphalt content and mineral aggregate gradation of RAP material in hot recycling is studied. The results show that the asphalt in the mixture can be obtained by centrifugal extraction method. The measured asphalt content is high. The gradation dispersion is high. The error of fine aggregate below 2.36 mm is large. The combustion method has high accuracy. The main error is less than 1.18 mm aggregate. Each method has its own emphases and should be comprehensively used in practical engineering.