AbstractAttempts to model asphaltene solubility with Scatchard‐Hildebrand theory were hampered by uncertainty in molar volume and solubility parameter distribution within the asphaltenes. By considering asphaltenes as a series of polyaromatic hydrocarbons with randomly distributed associated functional groups, molar volume and solubility parameter distributions are calculated from experimental measurements of molar mass and density. The molar mass distribution of Athabasca asphaltenes is determined from interfacial tension and vapor pressure osmometry measurements together with plasma desorption mass spectrometry determinations from the literature. Asphaltene desnities are calculated indirectly from mixtures of known concentration of asphaltene in toluene. Asphaltene density, molar volume, and solubility parameter are correlated with molar mass. Solid‐liquid equilibrium calculations based on solubility theory and the asphaltene property correlations successfully predict experimental data for both the precipitation point and the amount of precipitated asphaltenes in toluene‐hexane solvent mixtures.