The traditional asphalt pavement has large thermal inertia, strong heat absorption and heat storage capacity, which can easily cause rutting problems and aggravate the development of urban heat island effect. The use of asphalt thermal reflection coating can protect the stability of asphalt pavement and as a measure to mitigate the urban heat island effect. In this study, the working mechanism and research methods of thermal reflection coatings are described. The influence of internal and external factors on the cooling performance of thermal reflective coating was analyzed, and the results showed that the greater the difference between the refractive coefficient of fillers and that of resin, the stronger the reflection ability of coating. The fillers size, the volume concentration and the coating thickness all have a certain optimal range, within which the larger they are, the better the cooling performance of the coating is. The change of coating structure can give full play to the function of fillers and improve its cooling performance. Due to the different degree of solar radiation absorption of pigmented fillers, adding pigmented fillers to the coating to change the color will affect its cooling performance. Coating applied to different types of pavement, cooling effect is also different. In terms of the influence of environmental factors, the thermal reflection coating will appear aging, wear and other problems in long-term use, and the cooling performance will also decrease. Finally, the influence of asphalt thermal reflection coating on thermal environment is analyzed.