Porous asphalt mixture, designed with a large interconnected air void system, can be placed on pavement to reduce hydroplaning-related traffic accidents, mitigate heat-island effect, and reduce traffic noise. However, due to its thermoplastic and high porosity nature, the material generally has low durability in the field. This research project aimed to improve the durability, strength, and sustainability of porous asphalt mixture by formulating bio-based epoxy asphalt binder (BEAB) and improving its mixture design. In the study, a BEAB formula was firstly developed through a uniform experimental design. Then, the performance of porous asphalt mixture containing BEAB was tested and evaluated along with traditional porous asphalt mixture. Finally, a simple ranking approach was introduced to improve the current mixture design approach. Based on laboratory test results and analysis, the optimum BEAB formula was identified as 7% epoxidized soybean oil (ESBO), 5% maleic anhydride (MA), and 88% base asphalt (PG 67-22). In practice, to achieve balanced pavement performance for water permeability, mixture durability, strength, and cracking resistance, a 4.75-mm nominal maximum aggregate size (NMAS) open gradation with an optimum BEAB content is recommended. The developed BEAB-based porous asphalt mixture may promote the applications of porous asphalt pavement (“green pavement”) and open-graded friction course (OGFC) in more community health related scenarios.