We introduce ApproxCount, an algorithm that approximates the number of satisfying assignments or models of a formula in propositional logic. Many AI tasks, such as calculating degree of belief and reasoning in Bayesian networks, are computationally equivalent to model counting. It has been shown that model counting in even the most restrictive logics, such as Horn logic, monotone CNF and 2CNF, is intractable in the worst-case. Moreover, even approximate model counting remains a worst-case intractable problem. So far, most practical model counting algorithms are based on backtrack style algorithms such as the DPLL procedure. These algorithms typically yield exact counts but are limited to relatively small formulas. Our ApproxCount algorithm is based on SampleSat, a new algorithm that samples from the solution space of a propositional logic formula near-uniformly. We provide experimental results for formulas from a variety of domains. The algorithm produces good estimates for formulas mu...