Soil stabilization with asphalt is a technique that can improve the mechanical properties of soil, being a viable option both economically (reducing transportation costs of materials) and environmentally (mainly in the construction phase, reducing emissions from material transportation by using local materials, and depleting fewer quarries). In this research, a stabilization method with low asphalt content and a slow-setting asphalt emulsion was used. The influence of stabilization on the occurrence of shakedown was analyzed. The results showed an improvement in the resilient modulus (MR) and a reduction in the permanent deformation (PD) of the soil compared to natural soil, but a worsening in PD compared to the control soil. The MR reached values of 600 MPa in the last loading cycle, and PD was reduced by approximately 189%. These results indicate that soil stabilization with asphalt is a promising technique for pavement applications.