The captive bubble technique in combination with axisymmetric drop shape analysis (ADSA-CB) and with micro gas chromatography is used to study the dynamics of dissolution of different gases and vapors in water in situ. The technique yields the changes in the interfacial tension and bubble volume and surface. As examples, the dissolution of methanol and hexane vapors, inhaled anesthetic vapors, and gases, that is, diethyl ether, chloroform, isoflurane, enflurane, sevoflurane, desflurane, N2O, and xenon, and as nonimmobilizers perfluoropentane and 1,1,2-trichloro-1,2,2-trifluoro-ethane (R113) were investigated. The examination of interfacial tension-time and bubble volume-time functions permits us to distinguish between water-soluble and -insoluble substances, gases, and vapors. Vapors and gases generally differ in terms of the strength of their intermolecular interactions. The main difference between dissolution processes of gases and vapors is that, during the entire process of gas dissolution, no surface tension change occurs. In contrast, during vapor dissolution the surface tension drops immediately and decreases continuously until it reaches the equilibrium surface tension of water at the end of dissolution. The results of this study show that it is possible to discriminate anesthetic vapors from anesthetic gases and nonimmobilizers by comparing their dissolution dynamics. The nonimmobilizers have extremely low or no solubility in water and change the surface tension only negligibly. By use of newly defined molecular dissolution/diffusion coefficients, a simple model for the determination of partition coefficients is developed.