The ageing property of the asphalt binder is time-dependent. A time-dependent short term ageing property of 80/100 penetration grade bitumen and the possibility of waste engine oil rejuvenation for the highly aged asphalt binder performance were investigated. Four specimens of equal weight from the penetration grade-80/100 bitumen are collected. The first specimen was checked for quality requirements. The other three specimens were aged using rolling thin film oven for 85, 115, and 145 minutes to simulate the delay during hot mix asphalt production, hauling, and compaction. The highly aged bitumen was rejuvenated with 2%, 5%, and 10% Waste Engine Oil by weight. Results indicated that as the ageing time increased, penetration and ductility decreased, softening point, flash point, fire point, and mass loss increased. A conventional test showed that highly aged bitumen from the trial period was 145 minutes and 10% waste engine oil obtained the optimum dosage. Further, multiple stress creep recovery analyses indicated the rejuvenated binder is prone to pavement rutting above 70°C, and rejuvenation is effective for pavement temperature below 70°C. Hence, exposing the asphalt binder for temperature for a more extended period affects pavement performance.