By analyzing the vibration and noise reduction mechanism of the rubber powder noise reduction micro-surfacing, the influential factors for this kind of micro-surfacing on the road performance were studied based on orthogonal tests, and the mix ratio of the rubber powder mixture used in the micro-surfacing was optimized. The results show that the addition of rubber powder to the micro-surfacing can reduce the tire vibration on road surface by virtue of its damping effect and the porous sound-absorbing structure on the mixture surface can reduce the noise. It can play the role of vibration and noise reduction simultaneously. The blending ratio of emulsified asphalt, the amount of rubber powder and the particle size of rubber powder will affect the rutting resistance, water resistance and noise reduction performance of the rubber powder noise reduction micro-surfacing to different extent. According to the contribution order of each factor to each technical index, the mix ratio for the rubber powder noise reduction micro-surfacing was optimized. The optimal gradation selection is type 1 uniform gradation, where the modified emulsified asphalt is 11.5%, the added water is 3%, and the waterborne epoxy resin is 10%. In addition, the fineness of the rubber powder is 0.250 mm, and the dosage is 3%.