The SBS modified asphalt mortar and mixture with the different SBS contents and stabilizer contents are prepared respectively. And the adhesiveness of SBS modified asphalt mortar and the water loss resistances of its mixture are systematically studied through BBS pull-out test, freeze-thaw splitting test and Hamburg rutting test to explore the relationship between the two. The study results show that the addition of SBS enhances and improve the adhesiveness of the asphalt and the water resistance sensitivity of the asphalt mortar. The adhesiveness and water loss resistance of SBS modified asphalt mortar are constantly improved with the increase of SBS content, and the both increase first and then decrease with the increase of stabilizer content. The optimal stabilizer content of the modified asphalt with SBS content of 4.5% is 0.15%. The freeze-thaw splitting tensile strength ratio TSR can better reflect the sensitivity of asphalt mixture to water than the damage deformation rate MR. The freeze-thaw splitting test is more suitable to evaluate the water loss resistance of SBS modified asphalt than Hamburg rutting test.