Abstract: A thermoplastic elastomer asphalt composition is a blend of 100 parts by weight of asphalt, from about 12 to about 20 parts by weight of ground rubber containing primarily SBR, natural rubber, or polybutadiene, and from about 2 to about 8 parts by weight of a styrene-butadiene block copolymer. A block copolymer has at least two styrene blocks, each having a molecular weight of from about 5,000 to about 20,000 and may be linear or branched. The blend has good low and high temperature cohesive and adhesive properties, good low and high temperature flexibility, and good elasticity. The composition can be used as a crack sealer, a concrete joint sealer filler, an overlay sealant for construction materials, and the like.