The Asian Film Awards are given out yearly by the Asian Film Awards Academy to honor the achievement of film professionals in Asian cinema.

Wilfred Wong, Chairman of the Hong Kong International Film Festival Society, announced the inauguration of the Asian Film Awards on January 29, 2007. The first Asian Film Awards were held on March 20, 2007, in the Hong Kong Convention & Exhibition Centre, on the opening ceremonies of the 31stHong Kong International Film Festival (HKIFF). In 2006, it celebrated Asian cinema's great cinematic achievements. There were around 4000 guests from all over the nation.

The AFA Presentation Ceremony is part of the Opening Gala of the Entertainment Expo Hong Kong. Eminent filmmakers and celebrities from across the world are invited to present honors on the winner(s) of each division, making the ceremony both a sparkling extravaganza and a significant cultural event. Since its inception in 2007, Chinese-language movies and experts from China, Taiwan, and Hong Kong have ruled the prizes.