Asghar Afghan has been a regular member of the team since 2009
"As per the decision by ACB Top management, senior player Asghar Afghan is reappointed as team Afghanistan's captain across formats," ACB said on its official Twitter account.
Leg-spinner Rashid, 21, was named captain for all formats with Afghan as his deputy in July after a dismal run at the 50-over World Cup in England.
Afghan, 31, who led his country to a maiden Test win against Ireland this year, has been a regular member of the team since 2009 and was reinstated at the helm with Rashid demoted to vice-captain.
Under Afghan's leadership, the country won full membership status from the International Cricket Council and qualified for the 2019 World Cup but in a surprising move he was removed from the position less than two months before the tournament.
Afghanistan lost all nine of their matches at the World Cup in England and finished at the bottom of the standings.