Oxidative ageing as an inevitable process in practical road paving has a great effect on the properties of polymer-modified asphalts (PMAs). In this article, the effect of short-term and long-term oxidative ageing on the theological, physical properties and the morphology of the styrene-butadiene-styrene (SBS)- and storage-stable SBS/sulfur-modified asphalts was studied, respectively. The analysis on the rheological and physical properties of the PMAs before and after ageing showed the two major effects of ageing. On one hand, ageing prompted the degradation of polymer and increased the viscous behaviour of the modified binders, on the other, ageing changed the asphalt compositions and improved the elastic behaviour of the modified binders. The final performance of the aged binders depended on the combined effect. After ageing, the storage-stable SBS/sulfur-modified asphalts showed an obvious viscous behaviour compare with the SBS-modified asphalts and this led to an improved low-temperature creep property. The rutting resistance of the SBS-modified asphalts declined by the addition of sulfur due to the structural instability of the SBS/sulfur-modified asphalts. The rheological properties of the modified binders before and after ageing also depended strongly on the structural characteristics of SBS. The observation by using optical microscopy showed the compatibility between asphalt and SBS was improved with further ageing, especially for the storage-stable SBS/sulfur-modified asphalts. (C) 2010 Elsevier B.V. All rights reserved.