In August 2018, he was one of thirty-three players to be awarded a central contract for the 2018–19 season by the Pakistan Cricket Board (PCB).

In 2023, he resumed his studies, after having to interrupt them due to his professional cricket career, by joining University of Karachi's BS Health Physical Education and Sports Sciences (HPESS) program.

[6] Asad Shafiq made his first-class debut at 21 years old for Karachi Whites against Hyderabad at Niaz Stadium on 21 October 2007.

[10][11] He played all ten matches of the 2007–08 Quaid-e-Azam Trophy for Karachi Whites, and finished as their leading run-scorer with 745 runs at an average of 49.66.

[18] Shafiq made it into the national team for the first time in the 2010 Asia Cup when he was selected as part of Pakistan's 15-man squad for the tournament.

[19] He joined the team at a turbulent stage for the side, as several players had recently been given bans by the Pakistan Cricket Board for behavioural issues.

[20] Shafiq made his ODI debut in a dead rubber match against Bangladesh at the Rangiri Dambulla International Stadium.

[21][22] Despite having been the top run-scorer in the Quaid-e-Azam Trophy and one of only two players to score more than 1,000 runs in the 2009–10 season, Shafiq was overlooked by national selectors for Pakistan's Test squad to face England.

[43][44][45] Shafiq was called into Pakistan's squad for a Twenty20 series in New Zealand after fast bowler Sohail Tanvir was pulled out due to a knee injury.

[49] In the first Test, when Pakistan were in trouble at 4/107, Shafiq fought back with Misbah-ul-Haq, the two of them reaching the end of the second day with an unbeaten 128-run partnership.

[67][68] In July 2021, Asad Shafiq lost his central contract after failing to maintain his spot in the national team.

[69] In December 2023, Shafiq announced his retirement from all forms of cricket after he captained Karachi Whites to victory in the 2023-24 National T20 Cup.