Abstract: The 2004 Nobel Prize in Physics was awarded to David J. Gross, Frank Wilczek and H. David Politzer for their decisive contributions to the theory of the asymptotic freedom of the strong interaction (a fundamental interaction). The fundamental elements of quantum chromodynamics(QCD) and the theory of the strong interaction are briefly reviewed in their historical context. How to achieve asymptotic freedom is introduced and its physical meaning explained. The latest experimental tests of asymptotic freedom are presented, and it is shown that the theoretical prediction agrees excellently with the experimental measurements. Perturbative QCD which is based on the asymptotic freedom is outlined. It is pointed out that the theoretical discovery and experimental proof of the asymptotic freedom are crucial for QCD to be the correct theory of strong interaction. Certain frontier research areas of QCD, such as ‘color confinement’, are mentioned. The discovery and confirmation of asymptotic freedom has indeed deeply affected particle physics, and has led to QCD becoming a main content of the standard model, and to further development of the so-called grand unification theories of interactions.