The Little Tikes Cuddly Blanket, sold exclusively by the supermarket chain, has fabric rings at each corner which could detach, Asda said.
The £4 blanket carries the barcode 0505244979156 and an attached sewing label with the code number 07C.08.13.075.
The retailer said: "As a precaution Asda is recalling the Little Tikes Cuddly Blanket which is sold exclusively by Asda.
"We have become aware of a potential choking hazard presented by the fabric rings at each corner which may detach from the blanket on a limited number of products.
"Asda and Little Tikes would like to apologise for any inconvenience."
Asda advised customers to return the blanket to their local store or contact Asda.com for a full refund, adding that no receipt was necessary.