diff --git a/peewee_async.py b/peewee_async.py
index d426d1a..70239ef 100644
--- a/peewee_async.py
+++ b/peewee_async.py
@@ -811,6 +811,49 @@ async def aio_delete_instance(self, recursive=False, delete_nullable=False):
                     await model.delete().where(query).aio_execute()
         return await type(self).delete().where(self._pk_expr()).aio_execute()
 
+    async def aio_save(self, force_insert=False, only=None):
+        field_dict = self.__data__.copy()
+        if self._meta.primary_key is not False:
+            pk_field = self._meta.primary_key
+            pk_value = self._pk
+        else:
+            pk_field = pk_value = None
+        if only is not None:
+            field_dict = self._prune_fields(field_dict, only)
+        elif self._meta.only_save_dirty and not force_insert:
+            field_dict = self._prune_fields(field_dict, self.dirty_fields)
+            if not field_dict:
+                self._dirty.clear()
+                return False
+
+        self._populate_unsaved_relations(field_dict)
+        rows = 1
+
+        if self._meta.auto_increment and pk_value is None:
+            field_dict.pop(pk_field.name, None)
+
+        if pk_value is not None and not force_insert:
+            if self._meta.composite_key:
+                for pk_part_name in pk_field.field_names:
+                    field_dict.pop(pk_part_name, None)
+            else:
+                field_dict.pop(pk_field.name, None)
+            if not field_dict:
+                raise ValueError('no data to save!')
+            rows = await self.update(**field_dict).where(self._pk_expr()).aio_execute()
+        elif pk_field is not None:
+            pk = await self.insert(**field_dict).aio_execute()
+            if pk is not None and (self._meta.auto_increment or
+                                   pk_value is None):
+                self._pk = pk
+                # Although we set the primary-key, do not mark it as dirty.
+                self._dirty.discard(pk_field.name)
+        else:
+            await self.insert(**field_dict).aio_execute()
+
+        self._dirty -= set(field_dict)  # Remove any fields we saved.
+        return rows
+
     @classmethod
     async def aio_get(cls, *query, **filters):
         """Async version of **peewee.Model.get**"""
@@ -835,10 +878,7 @@ async def aio_get_or_none(cls, *query, **filters):
             return None
 
     @classmethod
-    async def aio_create(cls, **data):
-        """INSERT new row into table and return corresponding model instance."""
-        obj = cls(**data)
-        pk = await cls.insert(**dict(obj.__data__)).aio_execute()
-        if obj._pk is None:
-            obj._pk = pk
-        return obj
+    async def aio_create(cls, **query):
+        inst = cls(**query)
+        await inst.aio_save(force_insert=True)
+        return inst
diff --git a/peewee_async_compat.py b/peewee_async_compat.py
index adaa143..ecd4e3e 100644
--- a/peewee_async_compat.py
+++ b/peewee_async_compat.py
@@ -291,6 +291,10 @@ async def update(self, obj, only=None):
         :param only: (optional) the list/tuple of fields or
                      field names to update
         """
+        warnings.warn(
+            "`update` method is deprecated, use `AioModel.aio_save` method instead.",
+            DeprecationWarning
+        )
         field_dict = dict(obj.__data__)
         pk_field = obj._meta.primary_key
 
diff --git a/tests/aio_model/test_shortcuts.py b/tests/aio_model/test_shortcuts.py
index 8c86b78..9816e2f 100644
--- a/tests/aio_model/test_shortcuts.py
+++ b/tests/aio_model/test_shortcuts.py
@@ -1,5 +1,6 @@
 import uuid
 
+import peewee
 import pytest
 from peewee import fn
 
@@ -86,3 +87,25 @@ async def test_aio_delete_instance_with_fk(db):
 
     assert await TestModelAlpha.aio_get_or_none(id=alpha.id) is None
     assert await TestModelBeta.aio_get_or_none(id=beta.id) is None
+
+
+@dbs_all
+async def test_aio_save(db):
+    t = TestModel(text="text", data="data")
+    rows = await t.aio_save()
+    assert rows == 1
+    assert t.id is not None
+
+    assert await TestModel.aio_get_or_none(text="text", data="data") is not None
+
+
+@dbs_all
+async def test_aio_save__force_insert(db):
+    t = await TestModel.aio_create(text="text", data="data")
+    t.data = "data2"
+    await t.aio_save()
+
+    assert await TestModel.aio_get_or_none(text="text", data="data2") is not None
+
+    with pytest.raises(peewee.IntegrityError):
+        await t.aio_save(force_insert=True)