Hodoud retained the cup title after beating 35-time champions Ahli 5-4 on penalties, forcing an epic finale to the season in Egypt.
Al-Ashri believes his team can now be considered among the powerhouses, while paying tribute to his opposition.
"Thanks to all my players who proved today that Hodoud are on the map of glory by winning another title," the former Egypt international said after the game.
"Penalties is all about fortune and I had faith in God that we will win this game.
"However, the defeat takes nothing out of the efforts made by Ahli and their manager Hossam Al-Badri.
"Many thanks to Ahli because they gave us a great game and the neutrals were thrilled by both teams' display tonight."
Al-Ashri, who has just extended his stay with Hodoud, has yet to lose against his Ahli counterpart Al-Badri after four encounters this season.
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