HMCS Asbestos (K358) was a Flower-class corvette that served in the Royal Canadian Navy.
Asbestos followed the design of the modified Flower-class corvettes and was ordered from Morton Engineering & Dry Dock Co.. She was laid down on 20 July 1943 and launched on 22 November 1943. She was commissioned into the RCN on 16 June 1944 and arrived at Halifax on 9 July before moving on to Bermuda for working up.
Following working up she headed for St John's on 21 August where she joined convoy HXF.307 on 10 September as a member of Escort Group C-2. She continued on as a member of this group on convoy duties until the end of the war in Europe.
She was decommissioned from the RCN on 8 July 1945 and laid up on Sorel-Tracy, Quebec. Sold to a Panamanian company in 1947, she was wrecked off Cuba whilst en route to Panama on 13 February 1949. The wreck was salvaged and taken to New Orleans, Louisiana for scrapping in March 1949.