The invention discloses a conduction oil heating and heat insulation energy-saving circulation system for an asphalt mixture. The system comprises a conduction oil furnace, a carrier requiring heat insulation as well as an oil supply header and an oil return header connected between the conduction oil furnace and the carrier, wherein a circulating pump is arranged on the oil supply header, an electric conduction oil heater is arranged in an oil path between the circulating pump and the carrier, an oil-gas separator is arranged in an oil path between the conduction oil furnace and the circulating pump, an expansion tank communicating with the oil path is arranged between the oil-gas separator and the oil return header, and an oil path connected with the carrier in parallel is formed. The conduction oil heating circulation system is operated with a burner used as a heat source during field operation and is operated with a mains supply used as the heat source in a maintenance department for overnight heat insulation, the environment is not polluted and the cost is lower while waste of waste heat and environmental pollution during electric heating and heat insulation are avoided, the two heat sources can be used alternatively and can complement each other for use.