The 30-year-old from Faisalabad is a two-time national champion but had never prviously been beyond the last 32 of the IBSF main event.
He beat the likes of Australia's Vinnie Calabrese and Malta's Alex Borg to reach the final, then edged out Englishman Wilson in a tense contest.
Asif led 6-3 after the first session then Wilson fought back to 7-7. But Asif finished strongly by winning three of the last four frames.
"It's unbelievable, it's what I have been chasing for the past 10 years," he said.
Belgium's Wendy Jans won the women's event by beating Hong Kong's Ng On Yee 5-1 in the final, while Welshman Darren Morgan eased to the Masters crown with a 6-2 defeat of Aussie Glen Wilkinson.
Ball by ball scoring and results from tournaments