Aschehoug represents a wide list of new and established Norwegian and foreign authors. Its publishing programme is divided into three main categories - works of fiction, including books for children and younger readers; works of reference, popular science and handbooks on various hobbies. It is also the leading Norwegian publishing house for textbooks, for every level of instruction.

Aschehoug was founded in 1872 by two cousins Aschehoug, who started a bookshop in Oslo. From the start the firm was involved in publishing in a modest way, its output consisting mainly of school books. In 1888 it was taken over by William Nygaard and Torstein Lambrechts, but in 1900 William Nygaard withdrew from the book selling side of the business and established a publishing company, which was given the name H. Aschehoug & Co. (W. Nygaard).

Until the end of the previous century, virtually all Norwegian literature of importance was published by Danish publishing houses. William Nygaard set himself the task of building up a major, independent Norwegian publishing house which could compete for Norwegian authors on an equal footing with its powerful Danish rivals.