The work covers comprehensive laboratory tests of semi-circular bending (SCB) of asphalt concrete samples. The results of two test series, including four and 32 SCB specimens, indicate a substantial scatter of force–deflection (F-d) histories. The numerical analysis is aimed to reflect the maximum breaking load and fracture energy of the samples, pointing out their random character. The original simulation-based fictitious Monte Carlo material model was introduced. The authors’ algorithm randomly assigns asphalt mortar and coarse aggregate parameters to the finite elements of the numerical model. As a result, sets of random fields are generated to reflect the two-phase material distribution in the samples. The model parameters are numerically adjusted based on laboratory test results of the initial four SCB specimens. In the course of model verification, the 32-sample computations were compared with the laboratory data. The results of FEM simulations are consistent with laboratory test results, including dispersion of fracture parameters. The proposed computational algorithm with a two-phase material model is ready to be implemented in the analysis of actual road pavement constructions and may support the design process.