Hearst won the business after a pitch process against Immediate Media, Bauer and the incumbent Publicis Blueprint.
Hearst will now be responsible for producing Asda’s customer magazine, which is distributed to more than 1.9 million readers, as well as creating content for Asda’s online, mobile and social media channels, as well as its events.
The pitch was led by Ella Dolphin, Hearst’s group commercial director, Dan Levitt, and Victoria White, Hearst’s newly appointed commercial content director, who oversees all content partnerships across the portfolio, including the Asda account.
The Asda account will be serviced by a dedicated editorial team based in Hearst's central London offices.
It is expected that about 50 staff from Publicis Blueprint will be transferred to Hearst through TUPE.
A Hearst spokesman said: "We are currently consulting with the employees engaged on the Asda project as part of the usual TUPE process and will comment fully in due course."
Hearst was already working with Asda on #fashionunexpected, a campaign to drive awareness of George at Asda’s fashion products for women.
The pair created the fashionunexpected.co.uk site, which is populated by four Hearst brands and will run until the end of the year.