Display omitted •Kinetic model for thermal and catalytic hydrocracking of asphaltene was developed.•A linear relationship between coke yields and liquid yields was found.•A critical gas mass fraction was proposed as a coke formation determining criterion.•The kinetic model can predict well the moment when coke begins to form. In this study, a five-lump model was proposed for kinetic modeling of asphaltene placed in a batch reactor with a commercial slurry-phase catalyst (Mo-octoate). Asphaltene was separated from vacuum residue using normal pentane. The kinetic experiments were carried out at 380∼430℃ for 1∼20 h together with a 1000 ppm concentration of Molybdenum in thermal and catalytic hydrocracking reaction modes. The results showed that the coke induction period and maximum maltene yield are changed with reaction temperature and time at thermal and catalytic hydrocracking. In addition, a linear relationship between coke and liquid (maltene + asphaltene remains) yields was shown so that the critical gas amount could be found as a criterion for determining the end of the coke induction period. Significantly, the kinetic model fit the experimental data well and, moreover, was found to be able to predict the moment when coke begins to form as well as maximum maltene yields.