Akram is regarded as one of the greatest fast bowlers in the history of game. He holds the world record for most wickets in List A cricket with 881 and is second only to Sri Lankan off-spin bowler, Muttiah Muralitharan in terms of ODI wickets with 502. He is considered to be one of the founders and perhaps the finest exponent of reverse swing bowling.

He was the first bowler to reach the 500-wicket mark in ODI cricket during the 2003 World Cup. In 2002 Wisden released its only list of best players of all time. Wasim was ranked as the best bowler in ODI of all time with a rating of 1223.5, ahead of Allan Donald, Imran Khan, Waqar Younis, Joel Garner, Glen McGrath and Muralitharan. Wasim has taken 23 4-wicket hauls in ODI in 356 matches he played. On 30 September 2009, Akram was one of five new members inducted into the ICC Cricket Hall of Fame. He is the bowling coach of Kolkata Knight Riders but took a break from the position for IPL 6 citing a need to spend more time with family