In 2004, Rashad became the first black actress to win the Tony Award for Best Actress, which she won for her role in the revival of A Raisin in the Sun. Her other Broadway credits include Into the Woods, Jelly's Last Jam, Gem of the Ocean, and Cat on a Hot Tin Roof. She won a NAACP Image Award when she reprised her A Raisin in the Sun role in the 2008 television adaptation. She has also appeared in the films: For Colored Girls, Good Deeds, and Creed.
For Disney, she played Aunt Polly in Polly: Comin' Home!, voiced a cleaning lady in Mickey's 60th Birthday, Glacia the Ice Witch in Sofia the First, and will voice Joe's Mother in the 2020 Disney/Pixar film, Soul.