On the basis of basic law in AASHTO2007 model, the forecasting mathematical model of drying shrinkage of recycled aggregate concrete (RAC) is established by regression analysis and experimental study. The research results show that (1) with the replacement rate of RCA increases, the drying shrinkage value of RAC increases; this trend is even more obvious in the early drying time. (2) The addition of fly ash can inhibit the drying shrinkage of RAC, but the effect is not very obvious. Specifically, the addition of fly ash will increase the shrinkage to some extent when the mixing amount is 20%. (3) The addition of expansive agent can obviously inhibit the shrinkage of RAC; the inhibition affection is better than that of fly ash. (4) The forecasting mathematical models of drying shrinkage of RAC established in this paper have high accuracy and rationality according to experiment validation and error analysis.