Purpose: The aim of this study was to develop a situation-specific theory to explain the disease management experience of patients with asthma. Methods: Twenty participants with asthma were selected using the theoretical sampling method. The data were acquired through in-depth interviews conducted from June to October 2018 and analyzed using the grounded theory approach of Strauss and Corbin. Results: In total, 69 concepts, 30 subcategories, and 13 categories were generated to explain the disease management experience of patients with asthma. The core category of the disease management experience of patients with asthma was ‘management of the disease to prevent aggravation of symptoms over the lifetime’. The disease management process of asthma patients included three steps: the ‘cognition phase’, the ‘adjustment phase’, and the ‘maintenance phase’. However, some patients remained in the ‘stagnation phase’ of disease management, which represents the result of the continual pursuit of risky health behavior. There were three types of disease management experiences among patients with asthma: ‘self-managing’, ‘partially self-managing’, and ‘avoidant’. Conclusion: This study shows that patients with asthma must lead their disease management process to prevent exacerbation of their symptoms. It is imperative to develop nursing strategies and establish policies for effective disease management of patients with asthma based on their individual disease management processes and types.