The Saskatoon Health Region says the uncovered asbestos, which crumbles easily, was found after a third-party review of the Last Mountain Pioneer Home.
Officials say the probability that any residents or visitors were exposed is low.
An air-quality test is to be done at the care home as a precaution and results are expected within a few days.
The asbestos was found as part of a region-wide review of the Saskatoon Health Region's aging buildings.
Earlier this year, asbestos was found in some floor tiles in the assisted living section at St. Mary's Villa in Humboldt, which is also part of the Saskatoon Health Region.
It's not the first trouble for St. Mary's Villa.
The section where the floor is deteriorating is the same area where a carbon monoxide leak in December 2010 contributed to the deaths of three residents and made dozens of others sick. The CO poisoning stemmed from a gas leak in a boiler.