The invention discloses novel high viscosity asphalt and a preparation method thereof. The novel high viscosity asphalt comprises the following raw materials in parts by weight: 100 parts of base asphalt with high asphaltene content, 0.1-1.2 part of polyphosphoric acid, 2-12 parts of a ductility improver mother liquid, 1-8 parts of a dispersant, and 0.2-0.5 part of a coupling agent. The preparation method comprises the following steps: adding the polyphosphoric acid in the molten base asphalt to perform a chemical modification reaction, then adding the ductility improver mother liquid, continuing to react, and finally adding the dispersant and the coupling agent to continue to react for a period of time to prepare high viscosity asphalt, wherein the whole process is performed under a highs-speed stirring condition. The high viscosity asphalt is high in 60-degree dynamic viscosity, high in softening point, high in low-temperature ductility, stable to store, and good in adhesion to aggregates, has excellent high temperature stability, excellent low temperature anti-cracking performance, excellent anti-fatigue performance and excellent water resistance, is especially suitable for high-temperature humid areas, areas with relatively high diurnal temperature difference, and paving of heavy-duty roads and drainable pavements, effectively prevents common pavement damages such as pavement rutting, pavement upheaval, pavement fatigue cracking, pavement cold cracking and water encroachment on pavements, and prolongs the service life of the pavement.