Radio access technologies for cellular mobile networks are continuously being evolved to meet the future demands for higher data rates, and lower end‐to‐end delays. In the research and development of LTE, radio network simulations play an essential role. The evolution of parallel processing hardware makes it desirable to exploit the potential gains of parallelizing LTE radio network simulations using multithreading techniques in contrast to distributing experiments over processors as independent simulation job processes. There is a hypothesis that parallel speedup gain diminishes when running many parallel simulation jobs concurrently on the same machine due to the increased memory requirements. A proposed multithreaded prototype of the Ericsson LTE simulator has been constructed, encapsulating scheduling, execution and synchronization of asynchronous physical layer computations. In order to provide implementation transparency, an algorithm has been proposed to sort and synchronize log events enabling a sequential logging model on top of non‐deterministic execution. In order to evaluate and compare multithreading techniques to parallel simulation job distribution, a large number of experiments have been carried out for four very diverse simulation scenarios. The evaluation of the results from these experiments involved analysis of average measured execution times and comparison with ideal estimates derived from Amdahl’s law in order to analyze overhead. It has been shown that the proposed multithreaded task‐oriented framework provides a convenient way to execute LTE physical layer models asynchronously on multi‐core processors, still providing deterministic results that are equivalent to the results of a sequential simulator. However, it has been indicated that distributing parallel independent jobs over processors is currently more efficient than multithreading techniques, even though the achieved speedup is far from ideal. This conclusion is based on the observation that the overhead caused by increased memory requirements, memory access and system bus congestion is currently smaller than the thread management and synchronization overhead of the proposed multithreaded Java prototype.