Microwave-assisted concrete aggregate recycling is a new green technology, with little pollution and low energy generated during the heating process. The influence of moisture content on the microwave heating effect and concrete strength weakening was explored, and the separation effect of aggregate and mortar in concrete after microwave heating was analysed. Different heating paths were utilized to heat the concrete test blocks to obtain their temperature rise characteristics, and the compressive strength of the test blocks with different moisture content after heating was obtained by conducting uniaxial compression tests. The testing results showed that microwave power and moisture content were two important factors affecting the concrete breaking. When the water content of the test block was relatively high, the test block would break under a short irradiation time and low temperature under higher microwave power input. The aggregate-mortar interface debonding occurred, which could reduce the adhesion of mortar on aggregate, and more complete aggregates with low mortar adhesion could be selected from the crushed concrete. The testing results may provide a reference for further development of microwave-assisted concrete recycling technology.