Asatru is frequently regarded as one of the Neo-Pagan family of religions. That family includes Wicca, Celtic Druidism, and re-creations of Egyptian, Greek, Roman, and other ancient Pagan religions. However, many Asatruers prefer the term "Heathen" to "Neopagan" and look upon their tradition as "not just a branch on the Neopagan tree" but as a different tree. Unlike Wicca, which has gradually evolved into many different traditions, the reconstruction of Asatru has been based on the surviving historical record; it has been maintained as closely as possible to the original religion of the Norse people.

Asatru or Ásatrú is an Icelandic word, a translation of the Danish word Asetro. The latter was coined by scholars in the mid-19th century. It was intended to mean belief in the Asir, the Gods. In Scandinavia the religion is called Forn Siðr (which means the Ancient way), Forn sed (the Old custom), Nordisk sed (Nordic custom), or Hedensk sed (Pagan custom). The religion's origin is lost in antiquity. At its peak, it covered all of Northern Europe. In 1000 CE, Iceland became the second last Norse culture to convert to Christianity. Their prime motivation was economic. Sweden was ruled by a Pagan king until 1085 CE.

Icelandic poet Gothi Sveinbjorn Beinteinsson promoted government recognition of Asatru as a legitimate religion; this was granted in 1972. Since the early 1970's, the religion has been in a period of rapid growth in the former Norse countries, in Europe and North America.

It is not unknown for otherwise decent religions to become corrupted by incorporating racist, sexist, anti-semitic, and homophobic beliefs. For example, the Christian Identity movement is one wing of the Christian religion which has adsorbed such beliefs. During the early part of the 20th Century, The National Socialist Party in Germany under Adolf Hitler attempted to pervert Asatru by grafting parts of the religion onto the Nazi racist beliefs. This blasphemy died by the end of World War II, although some neo-Nazi groups -- largely in the U.S. -- are now attempting to continue the practice. This activity is in no way related to the restoration of Asatru as a legitimate Heathen religion. There is a very strong anti-racist, anti-Nazi stance among national Asatru groups in the Scandinavian countries. This is also found in almost all Asatru groups in English speaking countries. They typically have a clear rejection of racism written into their constitutions. Unfortunately, some anti-racism groups like the Southern Poverty law Center and the Federal Bureau of Investigation (in its Megiddo report) have mistakenly accused the entire religion of racism.

Many people are exposed to the name "Asatru" through role playing games, such as Mage: The Ascension. Unfortunately, the Asatru of these games bear little resemblance to the real religion.