We study the droplet epitaxy of indium on the As‐stabilized GaAs(001) substrate using the analytical theory of nucleation combined with kinetic Monte Carlo simulations. The developed model allows considering the atomistic processes of nucleation and growth of droplets without strict binding to the zinc blende structure. We assume that the formation of stable droplets results from the alternation of the processes of assembly and disassembly of subcritical islands. We use a concept of nonmonotonic dynamics of critical size and supersaturation to explain the physical processes on the surface. The thickness of the indium wetting layer exceeds a value of one monolayer and increases gradually with decreasing temperature, which is due to the long‐range interaction of indium with the GaAs substrate. The simulation results are in good agreement with the experiments in a wide range of growth temperatures.