The kinetics of atmospheric petroleum residue hydroconversion with a dispersed catalyst was studied. A methodology has been developed in order to transpose the chemical kinetics (reaction network, stoichiometry, and kinetic constants) obtained with a batch reactor by Nguyen et al. to a continuous reactor [Nguyen, T. S.; Tayakout-Fayolle, M.; Ropars, M.; Geantet, C. Chem. Eng. Sci. 2013, 94, 214]. Their five-lump kinetic model takes into account vapor–liquid mass transfer, vapor–liquid equilibriums, and hydrogen consumption. Consequently, hydrodynamics and vapor–liquid mass transfer of the micropilot unit’s reactor were studied in a cold mock-up by tracer experiments. The same thermodynamic model given by Nguyen et al. was used, and the flash calculations were performed using ProSimPlus software. Experimental data were obtained in the micropilot unit at 420, 430, and 440 °C with a dispersed catalyst for residence times of 1 and 2 h. The catalyst precursor, an oil-soluble molybdenum naphthenate, was added to obtain a molybdenum concentration of 600 wt ppm in the feedstock. The total pressure was 12 MPa with a hydrogen-to-feed ratio of 500 N m3/m3. The methodology was validated by comparing the model’s output with the experimental results.