Shahrukh said he felt "humbled and honoured" to receive the award.
"I say this very often that my stardom belongs to most South East Asians who reside abroad who have made the Indian cinema and me known around the world. I congratulate all the winners at the Asian Awards as well."
"There is so much talent around Asia and so many achievers, whether is was Dr. Amar Bose, the Hinduja Brothers or Zayn Malik. I am glad to have been a part of such a wonderful celebration of hard work by people in different field but similar passion," the Kuch Kuch Hota Hai star said in a statement.
Hosted by fashion icon Gok Wan and founded by entrepreneur Paul Sagoo, the Asian Awards dazzled with an array of global celebrities, dignitaries and influencers.
Zayn Malik picked up the prize for Outstanding Contribution to Music, and later even posed for a selfie with SRK.
Shahrukh was happy to share the special moment with his fans via Twitter, where he wrote: "This kid is so cool. May Allah bless him. Dinner time at the Asian Awards."
This was Zayn's first public appearance since leaving band One Direction, and he was seen flaunting a shaved head.
Meanwhile, Shahrukh looked dapper in a formal black tuxedo, with a sparkling white shirt and a black bow tie.
Images: IANS, AP