Asif's remarks about the danger posed by the mastermind of the 2008 Mumbai attacks - in which 166 people died - came at an international security conference in Munich, Germany.
"Saeed can pose a serious threat to the society," Asif told the audience at the Munich Security Conference on Sunday, The Nation reported.
Saeed was "arrested in the larger interest of the country", he added.
Saeed was also put under house arrest after the Mumbai attacks in November 2008, but he was freed by a court in 2009.
He carries a reward of USD 10 million announced by the US for his role in terror activities.
Pakistan was hit by at least eight terror attacks this month in which more than 100 people died, the latest being a suicide bombing on a famed Sufi shrine in Sindh province that claimed 88 lives.
In a statement critical of the American policies, Asif said Pakistan is determined to fight terrorism: "Let me assure the world community that Pakistan is a frontline state in this war and it will continue to fulfil its obligations to its own people and the international community but if the West's policies are going to be isolationist it won't help the fight against terrorism, only fuel it.
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