Objective: To compare the clinical characteristics and prognosis of patients with asthma combined with different types of persistent airflow limitation (PAL). Methods: We prospectively collected the clinical data of 288 asthma patients with PAL treated in the Department of Respiratory Medicine of Beijing Tongren Hospital from January 2020 to December 2024, including 170 males and 118 females, aged (63.30±9.19) years. The patients were divided into the PAL type asthma (PAL-A) group (141 patients) and the asthma-chronic obstructive pulmonary disease overlap (ACO) group (147 patients) based on clinical and imaging characteristics. General demographics, pulmonary function, blood routine tests, and serological results were compared between the two groups. All patients were followed up for 6 to 60 months, and were compared the risk of severe acute exacerbation (SAE) of asthma episodes as well as pneumonia. Statistical analysis was conducted using SPSS 22.0 software. Results: Compared with the PAL-A group, the ACO group had a higher proportion of males,≥1 severe exacerbation of asthma in the last 12 months [61.0%(86/141) vs. 47.6%(70/147), χ2=5.19, P=0.023],≥1 pneumonia in the last 12 months [53.9%(76/141) vs.31.3%(46/147), χ2=15.07, P<0.001], emphysema, hypertension, coronary heart disease, and diabetes, as well as older age and higher smoking index; while the FEV1% predicted, DLCO% predicted, peripheral blood eosinophil percentage, total immunoglobulin E (IgE), fractional exhaled nitric oxide (FeNO), and proportions of allergic rhinitis and nasal polyps were lower. Logistic regression analysis showed that the ACO occurrence was positively correlated with age(OR=1.10, 95%CI: 1.032-1.173), smoking index(OR=1.13, 95%CI: 1.088-1.175), and emphysema(OR=22.62, 95%CI: 7.948-64.388), and negatively correlated with total IgE(OR=1.00, 95%CI: 0.997-1.000), FEV1% predicted(OR=0.96, 95%CI: 0.929-0.996), DLCO% predicted(OR=0.97, 95%CI: 0.933-0.998), and nasal polyps(OR=0.34, 95%CI: 0.115-0.977). Log-rank test results indicated higher risks of SAE (Log-rank χ2=11.08, P<0.001) and pneumonia (Log-rank χ2=30.20, P<0.001) in the ACO group. Cox regression analysis revealed that severe asthma(RR=3.03, 95%CI: 1.606-5.713), impaired FEV1% predicted(RR=0.97, 95%CI: 0.950-0.990), and bronchiectasis in HRCT(RR=2.59, 95%CI: 1.276-5.267) were risk factors for SAE in the PAL-A group, whereas severe asthma(RR=2.00, 95%CI: 1.165-3.435), atopy(RR=1.84, 95%CI: 1.046-3.238), and impaired DLCO% (RR=0.98, 95%CI: 0.960-0.995) predicted were risk factors for SAE in the ACO group; meanwhile,≥1 pneumonia in the last 12 months (RR=4.00, 95%CI: 1.525-10.480)and bronchiectasis in HRCT(RR=6.45, 95%CI: 1.458-28.547) were risk factors for pneumonia in the PAL-A group, whereas severe asthma(RR=3.15, 95%CI: 1.724-5.746),≥1 pneumonia in the last 12 months(RR=4.98, 95%CI: 2.445-10.154) and coronary heart disease history(RR=2.19, 95%CI: 1.186-4.054) were risk factors for pneumonia in the ACO group. Conclusion: Among asthma patients, the clinical characteristics and prognosis vary according to the underlying causes of PAL, highlighting the need for further exploration of individualized treatment strategies.