Fischer–Tropsch synthesis (FTS) is a catalyzed chemical reaction in which synthesis gas (H2 + CO) is converted to clean fuels and chemicals. In addition to the classical Anderson–Schulz–Flory (ASF) model, two new models, namely, Yao and Lu models, are presented to show the FTS product distribution using the experimental data obtained in three fixed-bed reactors [each loaded with 1 g of the same iron-based catalyst and reduced with syngas (CO/H2), H2, and CO] over a wide range of FTS conditions. In the first approach, we plotted P(n + 1)/O(n + 1) versus Pn/On with carbon number n = 2–5, which is called Yao’s plot. The results showed that, although the P/O ratios are strongly dependent upon the process conditions, such as reduction agents, flow rates, pressures, etc., the plots of P(n + 1)/O(n + 1) against Pn/On yielded a nearly linear relationship, although with different gradients for all three reactors. These results indicate that the olefin and paraffin distributions are not independent. The current data, including the effect of the reducing agents on the catalyst performance, widen the range of the application of the Yao plot. Just like the classical ASF distribution model, this model has some deviations, especially for n = 2. The second plot, referred to as the Lu plot, depicts the relationship between normalized mole fractions of On, On + 1, and Pn. These plots show how the equilibrium points migrate with changes in the experimental conditions. These equilibrium point migrations seem to be due to changes in the CO conversion. Using the same normalized mole fraction concept, novel plots of CnH2n + 1, CnH2n, and Cn + 1H2(n + 1), that is, paraffin n, olefin n, and paraffin n + 1, when n = 2, 3, and 4, are plotted.