The appointment would be effective from September 1.
He would report to DNI President Jean-Briac Perrette, Discovery said in a statement.
As President and Managing Director of Discovery Networks Asia-Pacific (DNAP), Bastings would be responsible for setting the regional strategy and maximising its business potential and workforce to accelerate the company's expansion, it added.
Commenting on the development, Perrette said, "Arthur has a remarkable combination of experience in Asia, strong strategic thinking, and a proven track record of growth and building strong teams.
The Asia Pacific region encompasses two-thirds of the world's population and thus represents one of the biggest growth opportunities for our company, he added.
Bastings, who has over 20 years experience in TV and media business, would be based out of Singapore office.