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Abstract The relation of phase morphology and solid‐state microstructure with organic photovoltaic (OPV) device performance has intensely been investigated over the last twenty years. While it has been established that a combination of donor:acceptor intermixing and presence of relatively phase‐pure donor and acceptor domains is needed to get an optimum compromise between charge generation and charge transport/charge extraction, a quantitative picture of how much intermixing is needed is still lacking. This is mainly due to the difficulty in quantitatively analyzing the intermixed phase, which generally is amorphous. Here, fast scanning calorimetry, which allows measurement of device‐relevant thin films (<200 nm thickness), is exploited to deduce the precise composition of the intermixed phase in bulk‐heterojunction structures. The power of fast scanning calorimetry is illustrated by considering two polymer:fullerene model systems. Somewhat surprisingly, it is found that a relatively small fraction (<15 wt%) of an acceptor in the intermixed amorphous phase leads to efficient charge generation. In contrast, charge transport can only be sustained in blends with a significant amount of the acceptor in the intermixed phase (in this case: ≈58 wt%). This example shows that fast scanning calorimetry is an important tool for establishing a complete compositional characterization of organic bulk heterojunctions. Hence, it will be critical in advancing quantitative morphology–function models that allow for the rational design of these devices, and in delivering insights in, for example, solar cell degradation mechanisms via phase separation, especially for more complex high‐performing systems such as nonfullerene acceptor:polymer bulk heterojunctions.