Asphaltene, the most complex and recalcitrant fraction of heavy oil, was investigated in this study to gain new insights into its structure and reactivity. Two types of asphaltenes, ECT-As and COB-As, were extracted from ethylene cracking tar (ECT) and Canada's oil sands bitumen (COB), respectively, and used as reactants for slurry-phase hydrogenation. Characterization of ECT-As and COB-As was carried out by a combination of techniques, including XRD, elemental analysis, simulated distillation, SEM, TEM, NMR, and FT-IR, to gain insights into their composition and structure. A dispersed MoS2 nanocatalyst was used to study the reactivity of ECT-As and COB-As under hydrogenation conditions. The results showed that under optimal catalytic conditions, the vacuum residue content of hydrogenation products could be reduced to less than 20%, and the products contained over 50% light components (gasoline and diesel oil), indicating that ECT-As and COB-As were effectively upgraded. The characterization results indicated that ECT-As contained a higher aromatic carbon content, shorter alkyl side chains, fewer heteroatoms, and less highly condensed aromatics than COB-As. The light components (gasoline and diesel oil) of ECT-As hydrogenation products mainly consisted of aromatic compounds with 1-4 rings, with the alkyl chains mainly composed of C1-C2, while light components of COB-As hydrogenation products were mainly composed of aromatic compounds with 1-2 rings and C11-C22 paraffins. The characterization of ECT-As and COB-As and their hydrogenation products revealed that ECT-As was an "archipelago type" asphaltene, composed of multiple small aromatic nuclei interconnected through short alkyl chains, while COB-As was an "island type" asphaltene, with long alkyl chains connected to aromatic nuclei. It is suggested that the structure of asphaltene has a significant impact on both its reactivity and product distribution.