Kinetics and pathways of C60 reaction with hydrogen gas were studied in a broad temperature interval and over extended periods of time. Specifically, hydrogenation was monitored in situ at high temperature and high hydrogen pressure conditions using the gravimetric method. The shape of gravimetric curve was found to depend on hydrogenation temperature: at 350–400 °C saturation of the sample weight was achieved, whereas at 420–440 °C the sample weight reached the maximum and decreased upon prolonged hydrogenation. The weight decrease is due to fullerene cage fragmentation with formation of light hydrocarbons evaporating from the sample. Hydrogenation products were studied by X-ray diffraction, MALDI TOF and APPI FT-ICR mass spectrometry, liquid chromatography, and elemental analysis. Hydrogenation pathways (from C60H18 up to C60H56) and possible mechanisms of hydrogenation-induced fragmentation of fulleranes are discussed.