This paper deals with the influences that mineral oil, resin, and SBS triblock copolymer concentrations exert on the linear viscoelastic properties of these materials in a wide range of temperatures, with the overall objective of formulating pigmentable synthetic binders with adequate mechanical properties. The relationship between microstructure and linear viscoelastic properties is also studied. Three different regions, transition to glassy, plateau and beginning of the terminal region may be observed in the dynamic mechanical spectrum of these systems, depending on SBS concentration and temperature. Dynamic mechanical analysis tests confirm that the synthetic binders studied are not thermorheologically simple materials as a consequence of the formation of a multiphase system. A polymer-rich phase with high elastic properties and a resin-rich phase with predominant viscous characteristics were found. At high polymer concentration a continuous polymer-rich phase appears, while the continuous resin-rich phase is obtained at low polymer concentration or high resin content.