The performance of SBS (Styrene Butadiene Styrene) modified asphalt mixtures can be enhanced through the addition of fibers including basalt, ceramic, and glass. This study investigates whether a reduced SBS content of 3%, combined with 0.3% fiber reinforcement can match or exceed the performance of a traditional 7% SBS mixture. A comparative analysis was carried out by examining both performance efficiency and life cycle costs across ceramic, basalt, and glass fiber-reinforced mixtures. Maintenance requirements for each scenario were factored into the life cycle analysis. To assess structural integrity, 3D finite element simulations were conducted using the Burger’s logit model while focusing on fatigue and rutting damage. Findings indicate that basalt and ceramic fiber mixtures deliver better asphalt mixtures, thereby outperforming the 7% SBS mix by requiring fewer maintenance interventions. However, due to the higher cost of ceramic fiber mixtures at 831 Eur/m³, basalt fiber emerges as the more cost-effective option, achieving a performance efficiency gain of 20% with reduced costs at 532 Eur/m³. Among the fiber-reinforced variants, glass fiber showed the least improvement in performance, with a difference in 11% and 13% when compared to ceramic fiber and basal fiber, respectively.