He married actress Manju Bansal, with whom he fell in love while working together in films like Aaj Ki Taaza Khabar and Namak Haram.

After they wed, the couple acted in Tapasya, Chandi Sona, Jaan-E-Bahaar, Jurmana, Nalayak, Sarkari Mehmaan, Narad Vivah and Chor Sipahee.

Directors like Mukherjee, Atma Ram, and Gulzar repeatedly cast him in the period 1971–1974, and his work got noticed through these films.

His most memorable works as supporting actor from 1970 to 1979 are in Mere Apne, Koshish, Bawarchi, Parichay, Abhimaan, Mehbooba, Palkon Ki Chhaon Mein, Do Ladke Dono Kadke and Bandish.

His notable roles as a comedian from the 1970s are in Aaj Ki Taaza Khabar, Roti, Prem Nagar, Chupke Chupke, Chhoti Si Baat, Rafoo Chakkar, Sholay, Balika Badhu, Fakira, Anurodh, Chhailla Babu, Charas, Phaansi, Dillagi, Heeralal Pannalal, Pati Patni Aur Woh and Hamare Tumhare.

He won the Filmfare award for Best Comedian for his performances in Aaj Ki Taaza Khabar in 1974 and for Balika Badhu in 1977.

The songs picturised on Asrani and sung by Kishore in Hindi are "Achcha Chaloji Baba Maaf Kardo" from Hamare Tumhare, "Pyar Main Karoonga" from Yeh Kaisa Insaaf.

In the 1980s his memorable performances were in Hamari Bahu Alka, Ek Hi Bhool, Yeh Kaisa Insaf, Kaamchor, Agar Tum Na Hote, Asha Jyoti, Maqsad, Main Intequam Loonga, Love 86 and Biwi Ho To Aisi.

Simultaneously he kept working in Gujarati films in the 1970s and 1980s as a lead hero and achieved success as the lead protagonist in Amdavad No Rikshawalo, Saat Qaidi, Sansar Chakra, Pankhi No Malo, Jugal Jodi, Maa Baap, Chel Chabilo Gujarati.

From the 1990s he played as a comedian or supporting actor in Gujarati films like Mota Ghar Ni Vahu, Piyu Gayo Pardesh, and Baap Dhamal Dikhra.

The 2000s saw Asrani in a number of films like Hera Pheri, Chup Chup Ke, Hulchul, Deewane Huye Paagal, Garam Masala, Malamaal Weekly, Bhagam Bhag, De Dana Dan, Bol Bachchan, and Kamaal Dhamaal Malamaal.

Asrani and Mallika Sherawat were the judges of the 18th annual Naya Andaz competition on 17 April 2010, in New Jersey.

Asrani in 2018 played the role of Mikesh's grandfather in the popular web series Permanent Roommates and even appeared in advertisement in 2019.

He also played the role of DGP Director general of police in the serial Partners Trouble Ho Gayi Double.