Golf balls in accordance with the principles of the present invention include a core and one or more cover layers, with the core having a base rubber component that comprises de-vulcanized rubber. The base rubber component may include a blend of polybutadiene with the de-vulcanized rubber, and may also include at least one other type of recycled material. A golf ball of the present invention exhibits performance properties similar to golf balls made using solely non-recycled base rubber as the primary component of the core. For example, a golf ball of the present invention may have a compression of between 20 and 100, and a coefficient of restitution of greater than 0.680 at a test velocity of 125 ft/s.