The paper is devoted to the investigation of the catalytic properties of nickel-promoted molybdenum disulfide nanoparticles in the hydroconversion process. The formation of Mo and Ni compounds under hydroconversion conditions has been studied using chemical thermodynamics methods. Quantum-chemical calculations in the cluster approximation have confirmed the catalytic activity of Mo (n) Ni (m) S (p) nanoparticles in the reactions of hydrogen activation and aromatic-ring hydrogenation. It has been shown that the main role in the activation of hydrogen and the hydrogenation of aromatic rings is played by Mo- and Ni-containing active sites of the catalyst, respectively. To confirm theoretical assumptions, the yield of products of fuel oil hydroconversion on nanosized particles of the catalyst, nickel-promoted and in situ formed molybdenum disulfide, has been investigated. It has been shown that the promotion with nickel enhances the hydrogenating functions of the molybdenum-containing catalyst and lowers coke formation during hydroconversion.