The invention relates to bitumen modifying agent, polymer modified bitumen, being modified by physical and chemical methods, and the methods for preparation of polymer modified bitumen. Polymer modified bitumen comprises bitumen and oil-rubber composition, obtained by mixing shredded waste rubber with castor oil, and also comprises crosslinking component with reactive isocyanate groups (NCO) in its structure. Polymer modified bitumen contains, calculated on the weight of polymer modified bitumen, bitumen in the amount from 77% wt. to 95% wt. and oil-rubber composition in the amount from 4% wt. to 20% wt., while content of particles of waste rubber is from 4% wt. to 18% wt., while castor oil is from 0,25% wt. to 3% wt.. The polymer modified bitumen additionally comprises crosslinking component in the form of compound with free isocyanate groups (NCO) in the amount from 0,25% wt. to 3% wt.
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