The Nigerian-born sprinter declared he is aiming for gold at the 2016 Olympics, despite training without a coach for the last four months, and said only wet conditions in Incheon stopped him running even faster.
The victory brings a measure of redemption for the 23-year-old, who only returned to competitive running in January after a two-year suspension for testing positive for banned substance clenbuterol.
Ogunode is one of a host of African athletes who have switched allegiance to run for wealthy Gulf states, mainly Bahrain and Qatar.
His win brought his adopted country a second Games gold, drawing them level with Bahrain, whose own Nigerian import Oluwakemi Adekoya won the women's 400m with consummate ease.
In the men's 400m, Saudi Arabia's two-time Asian champion Yousef Masrahi set a Games record as he blew the competition away, Bahrain's Abbas Abubaker Abbas a distant second.
Hopes for an Asia-born athlete finally breaking the 100m 10-second barrier sank in the rain, with China's Su Bingtan crossing second in 10.10 and Kei Takase of Japan third in 10.14. Chinese team-mate Zhang Peimeng timed 10.18 in fourth.
Ogunode said he was always confident of victory and felt he had more to give. (Lin Dan Shatters Chong Wei's Golden Dreams)
"I wanted to achieve more than that, like 9.8 but when the rain came it changed me mentally," he said. "This is not my best form. My best form is yet to come. My main target is the Olympics."
China's Wei Yongli won a nail-biting women's 100m final in a photo finish from Chisato Fukushima of Japan. Wei's Chinese team-mate Xue Changrui took gold in the men's pole vault.
The second day of athletics competition at the Asiad began with high drama away from the track as officials restored 17-year-old Jebet's steeplechase win following furious protests from Bahrain.
The world junior champion had taken 24 seconds off the Asiad record as she romped home in first Saturday night, only to be stripped of victory as she was about to mount the podium to receive her medal.
But the ruling was reversed and Jebet was presented with gold in a new ceremony on Sunday and afterwards said even Bahrain's monarch, King Hamad bin Isa Al-Khalifa, had called her to promise that the title would be restored.
Jebet stumbled and put a foot in the infield as she entered the home straight on her penultimate lap while well clear of the rest of the runners.
But an athletics official said the review ruled the slip had not hindered anyone else or affected the outcome of the race.
On the roads, China's Olympic bronze medallist Wang Zhen took gold in the men's 20km race walk in 1hr 19min 45sec, a Games record, while team-mate Lu Xiuzhi won the women's walk.
There was a Chinese one-two in the women's hammer as Olympic bronze medallist Zhang Wenxiu set another Games record and won her third straight Asian Games title.
Her throw of 77.33 metres beat team-mate Wang Zheng and was nearly 17 metres further than bronze medallist Bala Manju of India.