The Nigeria-born Qatari stormed to victory in the 100m on Sunday, and repeated his double-gold feat of four years ago with an Asian Games record over the longer distance.
Ogunode - whose 2010 double included the 400m rather than the 100m - crossed the line in 20.14 seconds, ahead of Fahhad Mohammed Al Subaie of Saudi Arabia and South Korea's Yeo Ho-sua.
Japan's Chisato Fukushima had been fancied to shine in the women's race, but after her silver in the 100m, could only muster third as Olga Safronova of Kazakhstan topped the podium.
And it proved to be a fruitful day for Kazakhstan at Incheon Stadium, with Margarita Mukasheva setting a new Games record on her way to taking 800m gold, and Olga Rypakova triumphing in the women's triple jump.
Adnan Almntfage benefited from a triple disqualification to deliver Iraq's first gold medal of the Games with victory in the men's 800m, despite crossing the line in fourth, while China occupied the top two steps on the rostrum in both the women's 100m hurdles and javelin events.
Bahrain completed a 400m hurdles double courtesy of Ali Khamis Abbas Ali Khamis and Kemi Adekoya, and Takayuki Tanii won the men's 50km race walk for Japan on a bumper day of athletics action.
Host nation South Korea excelled in the team events on Wednesday as they claimed gold in the women's handball and hockey finals, while doubles pairing Kim Ae-kyung and Kim Beom-jun won the soft tennis mixed doubles.
South Korea almost completed a clean sweep in the day's Taekwondo events, winning three of the four golds on offer, while they took two of the four up for grabs in the wrestling.
Kazakhstan's success in the athletics extended to the pool as they triumphed in the men's water polo final, while China dominated the men's and women's 1m springboard diving competitions - claiming gold and silver in both.
Elsewhere, North Korea beat Japan to win the women's football final, Singapore were victorious in the J80 open match racing sailing, and the BMX golds went to the Philippines and Thailand.
This year's boxing events have caused some controversy in India in recent days, with allegations of biased judging in L Sarita Devi's lightweight semi-final defeat to South Korea's Park Ji-na, and the home fighter lost out to China's Yin Junhua on Wednesday.
MC Mary Kom became the first Indian woman boxer to win Asian Games gold when she triumphed in the flyweight final, while Jang Un-hui of North Korea won the middleweight event.
Meanwhile, Kuwait were on the receiving end of a humiliating result as the big boys entered the cricket event, managing a score of 21 all out on their way to a 203-run defeat to Bangladesh in the quarter-finals.