The settlement that would become Aasiaat was founded in 1759 by Niels Egede, son of Hans Egede, a Norwegian missionary. Named Egedesminde Colony after him, it was located north of Nordre Strømfjord, and was 125 km south of Aasiaat's current location. The town was moved to its current site in 1763. Most villagers were whalers, and the smallpox germs they carried to the region ravaged the native population, especially during the 1770s.
Aasiaat saw much growth in the first half of the 20th century.
On May 3, 1940, a treaty signed in Godhavn allowed American relief airplanes bound for the British Isles to use Greenlandic, Icelandic, and Scottish airspace. A result of World War II was the fact that Denmark, under the control of Nazi Germany, could not freely send supplies to Greenland; this task fell to the United States and Canada. Supplies were stored near Aasiaat, and were then transferred to other towns of the region, such as Uummannaq and Sisimiut.
Aasiaat has grown much since the war. A weather station was constructed in 1942 by the Americans. Cod, an economically popular fish since the 1930s, were caught and sent to a new factory to be salted and packed. Other businesses sprang up, accommodating to the resources and climate of
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