Bleeding asphalt is one of the hardest forms of distress to fix. If it is severe enough, it can lead to wet-weather crashes.
You could try rolling some aggregate into it on a hot day (or after heating the pavement), but that may only be a temporary solution. Depending on how bad it is, you may have to 'mill and fill' - grind off the top few inches of asphalt and replace them.
Other options include various forms of asphalt recycling, where you mill the asphalt, mix in fresh emulsion and/or 'asphalt rejuvenator', put it back down, compact it into a new base course, then pave new top-course asphalt.
"...students of traffic are beginning to realize the false economy of mechanically controlled traffic, and hand work by trained officers will again prevail." - Wm. Phelps Eno, ca. 1928
"I'm searching for the questions, so my answers will make sense." - Stephen Brust