A model of formation of asphalt-resin-wax deposits (ARWD) based on the concept of the spin nature of dispersions in petroleum-like systems is proposed. Dissolution of ARWD on addition of used industrial lube oil is examined with respect to transformation of the structure, whose dynamics is complex. Paramagnetism which changes in time passes through extrema. A slight increase in the concentration of paramagnetic centers (PMC) is observed after one day, and further recombination of the centers with formation of molecular products is observed after two days. The change in the structure of the associates in time is confirmed by the change in the antioxidant properties and viscosity of the composition.