Asbaghi defeated Jiannan Huang from China 5-4 at the Ganghwa Dolmens Gymnasium.
“I’ve come here to win the gold medal because a gold medal in the Asian Games is more valuable than 50 silver medals,” Asbaghi said.
“From now, I will concentrate on Mexico Olympics qualification and World Cup. I dedicate my medal to my parents,” he added.
Iranian athletes had already won 15 gold medals in the games.
Najmeh Khedmati won Iran’s first gold medal in the women's 10 m air rifle.
Wushu exponent Mohsen Mohammadseifi also seized a gold medal.
Mohsen Shadi Naghadeh won a gold medal at the men's single sculls race of the rowing.
Mohammad Daneshvar claimed a gold medal in the men's Keirin final.
Super heavyweight weightlifter Behdad Salimi snatched a gold medal.
Archer Esmaeil Ebadi won the gold medal of the compound men's individual.
Reza Yazdani claimed a gold medal in the men's freestyle 97 kg.
Masoud Esmaeilpour bagged a gold medal in the men's freestyle 61 kg.
Meisam Mostafa Joukar claimed a gold medal in the men's freestyle 86 kg.
Parviz Hadi won the gold medal in the men's freestyle 125 kg.
Masoud Hajizavareh seized the gold medal in the men -74 kg taekwondo.
Ehsan Hadadai bagged gold medal in the men’s discus throw.
Habibollah Akhlaghi won the gold medal in the men’s Greco-Roman 80 kg.
Mahdi Aliyari clinched the gold medal in the men’s Greco-Roman 98 kg.
And Mahdi Khodabakhshi snatched the gold medal in the -68 kg taekwondo.
Some 9,500 athletes from 45 countries are competing at the Games, the world's second-biggest multi-sport event after the summer Olympics, with 439 gold medals in 36 sports up for grabs.
Iran has participated in the games with 276 athletes in 22 sports.