Abstract: A process of preparing a donor solvent for coal liquefaction. Liquefied coal is distilled to separate the coal into a fraction having a boiling point less than about 350.degree. F. and a residue having a boiling point greater than about 350.degree. F. The residue from the distillation is deasphalted in a first solvent capable of substantially extracting from the residue a first oil comprising lower molecular weight compounds and saturated compounds. The residue from the first deasphalting step is then deasphalted in a second solvent capable of substantially extracting from the residue a second oil comprising concentrated aromatic and heterocyclic compounds and leaving in the residue asphaltenes and ash. The second oil can be used as a donor solvent. The second oil extracted in the second deasphalting step is preferably partially hydrogenated prior to use as a donor solvent for the liquefaction of coal.