Parekh threw a grand birthday party at Sun-N-Sand hotel in Mumbai on Monday that was attended by her friends and well-wishers, including Bollywood stars.
According to reports, Dilip Kumar and wife Saira Banu, Amitabh Bachchan and family, Sadhana, Waheeda Rehman, Aamir Khan and wife Kiran Rao, Nanda, Salman Khan and family, Yash Chopra and family, Shah Rukh Khan and wife Gauri Khan, Priyanka Chopra, Karan Johar, Shabana Azmi and husband Javed Akhtar, Hema Malini and husband Dharmendra attended the party.
Wishing her, Bollywood megastar Amitabh Bachchan tweeted: "Asha Parekh turns 70 today ! Goodness, life does go past rather rapidly... went across to wish her at a celebration at SunNSand."
Actor Arshad Warsi also greeted Parekh on the occasion and said: "Went to wish the very elegant n talented Asha Parekhji at her birthday party n met all the beautiful leading ladies of yesteryears."
Parekh was one of the top stars in Hindi films from 1959 to 1973.
Parekh started her career as a child artist under the screen name Baby Asha Parekh in the film Aasmaan (1952).
Director Bimal Roy saw her dance at a stage function and cast her at the age of twelve in Baap Beti (1954).
The film's failure disappointed her and even though she did a couple more child roles, she quit to resume her schooling.
At sixteen she decided to try acting again and make her debut as a heroine, but she was rejected from Vijay Bhatt's 'Goonj Uthi Shehnai' in favour of actress Ameeta, because the filmmaker claimed she was not star material.
The very next day, film producer Subodh Mukherjee and writer-director Nasir Hussain cast her as the heroine in 'Dil Deke Dekho' opposite Shammi Kapoor which made her a huge star.
Parekh entertained her fans with her acting skills in several films like 'Dil Deke Dekho', 'Kati Patang', 'Teesri Manzil', 'Mere Sanam' and 'Love in Tokyo'.
She was the president of the Cine Artistes' Association from 1994 to 2000.
Parekh was the first female chairperson of the Central Board of Film Certification of India. She held the post from 1998 to 2001 for which she received no salary but plenty of controversy for censoring films and for not giving clearance to Shekhar Kapur's 'Elizabeth'.
Later, she became the treasurer of the Cine and Television Artists Association (CINTAA) and also was later elected to be one of its officebearers.
She formed a production company Akruti and produced serials like 'Palash ke Phool', 'Baaje Payal', 'Kora Kagaz'' and a comedy 'Dal Mein Kaala''.