American Security and Freedom Fuels Act of 2010 - Authorizes the Secretary of Defense (DOD) to enter into one or more contracts for the procurement of liquid fuel suitable for use as an aviation fuel or aviation fuel blend and that: (1) is domestically produced; (2) is a synthetic fuel or derived from biomass; (3) is produced in a manner that does not primarily compete with food stocks; and (4) meets the regulatory standards of the Environmental Protection Agency (EPA) for renewable fuels standards pursuant to the Clean Air Act. Limits each contract to a 20-year period, and prohibits contract options. Requires the Secretary to report to Congress on performance under each such contract.