YKL-40 is a chitinase like protein associated with inflammation in asthma. The role of single nucleotide polymorphisms in CHI3L1 gene on asthma susceptibility and YKL-40 levels has been widely investigated on different ethnic groups, and contradictory results were obtained on susceptibility allele. In the present study, surface plasmon resonance technology and polymerase chain reaction based methods were utilized for serum YKL-40 evaluation and genotyping in 100 asthma patients and 50 healthy controls. Data analysis was done by STATA 11.1 software. Our preliminary observations in patients and controls revealed a total of 22 SNP’s in CHI3L1 gene. A non-synonymous SNP in exon 3 (64 D>N) (p = 0.05) and a synonymous SNP in exon 10 (364 C>C) (p = 0.004) were found to be significantly present in patients as compared to that in controls. We also observed two novel variations at genomic positions g.203153630 (p < 0.001) and g.203148418 (p < 0.001). We observed the −131C→G (rs4950928) promoter region variation and predominant expression of G allele in both groups. A statistically significant elevation of serum YKL-40 was observed in patients with CG genotype in comparison with GG (p < 0.001). Our findings concluded that the increased level of YKL-40 and hence asthma susceptibility may be due to the presence of CG genotype at rs4950928 promoter region.