Snow and ice on pavements would affect the mobility and safety of motorists unfavorably. As a cost-effective and pollution-free solution, this study proposes a heated pavement system using multifunctional conductive asphalt concrete containing graphite filler. The objective of this study is to find an efficient structural design for heated pavement and to evaluate its environmental, economic, and social impacts. The objectives were achieved through a three-stage methodology: a bench scale slab heating test and measurement of material properties, a set of parametric study using a nonsteady state heat transfer model, and lifecycle assessment. Based on the heat transfer analysis results, the location and thickness of the conductive layer that maximize the energy efficiency is proposed. The lifecycle assessment results champion the practical and sustainable applications of the heated pavement from the three-pillar perspective, conveying the fact that the initial high installment cost was eventually recouped by a substantial reduction in maintenance cost. The results and findings of this study will promote a wider adoption of the conductive asphalt concrete for sustainable infrastructure development and maintenance.