The retailer undercut second-placed Tesco by £3.22 and offered 26 of the cheapest or joint-cheapest items, including the whole frozen turkey at £13, Nestlé Quality Street at £3 and the Christmas pudding and Mr Kipling mince pies at £1.
Tesco crept a place up the rankings to second this year, with the help of its bargain booze. At £13.98, its Champagne undercut its rivals', as did its Famous Grouse, at £10.
It was a disappointing result for last year's winner Morrisons, which nosedived to third with a basket that cost £5.43 more than Asda's. Its After Eight mints were the most expensive at £2.99, but it offered the cheapest box of Christmas cards at £1.
Sainsbury's remained in fourth place. Its Christmas crackers cost 99p more than its rivals' and it also offered the most expensive Brazil nuts at £2.62/300g.
Waitrose's basket cost a whopping £30 more than Asda's. It offered the priciest whole frozen turkey at £22, Famous Grouse at £12.10 and Champagne at £18.99.