The healing phenomenon has been noted by pavement engineers for years, but its relation to hot-mix asphalt (HMA) fatigue behavior is still far from dear. This study conducted an analysis of healing and HMA fatigue behavior by introducing a specifically designed fatigue-healing test These results help explain the differences in fatigue behavior at normal and low strain levels. An approach using the ratio of dissipated energy change, which is based on energy concepts, is used in this study. The results show that healing does exist, and its effect on fatigue life can be indicated by an energy recovery per second of rest period. The effect of healing is more prominent at low strain levels or in very long rest periods. At low strain conditions, the dominance of healing compared with the very low external load damage, considering the energy equilibrium, can result in full damage recovery. This full recovery of energy explains the existence of a fatigue endurance limit, below which HMA materials tend to have extraordinarily long fatigue lives that, as is shown, can be related to healing. The testing conducted clearly shows why polymer modification may extend the fatigue life in the field even though laboratory testing may show minimal differences compared with the neat binder test results.