The addition of graphite powder in conventional asphalt mixture can produced asphalt concrete with excellent electrical performance. Percolation theory was employed to discuss the relation between the conductivity and graphite content of graphite-modified asphalt concrete. It was found that the results of percolation model are consistent with experimental values. The percolation threshold of graphite-modified asphalt concrete is 10.94% graphite content account for the total volume of the binder phase consisting of asphalt and graphite. The critical exponent is 3.16, beyond the range of 1.6-2.1 for the standard lattice continuous percolation problem. Its reason is that the tunnel conduction mechanism originates near the critical percent content, which causes this system to be not universal. Tunnel mechanism is demonstrated by the nonlinear voltage-current characteristic near percolation threshold.The percolation model is able to well predict the formation and development of conductive network in graphite-modified asphalt concrete.