Zinc deficiency (ZD) during pregnancy has far-reaching consequences on the mother, fetus and subsequent child survival. Therefore, the present study aimed to assess the prevalence and associated factors of ZD among pregnant women around Lake Awasa, Hawassa City, Ethiopia. To this end, a facility-based cross-sectional study was conducted on 333 randomly sampled pregnant women from 08 April to 08 May 2021. The socio-economic, dietary intake, water, sanitation and hygiene, obstetric, and maternal health data were collected through face-to-face interviews. Moreover, on-spot blood and stool samples were taken. Descriptive statistics and binary and multivariable logistic regression analysis were conducted. The prevalence of ZD was 58⋅6 % (95 % CI 53⋅31, 63⋅89). The poorest (AOR = 3⋅28; 95 % CI 1⋅26, 8⋅50) and poor (AOR = 2⋅93; 95 % CI 1⋅14, 7⋅54) wealth quintiles, four of more family size (AOR = 1⋅84, 95 % CI 1⋅10, 3⋅35), poor dietary diversity (AOR = 4⋅11; 95 % CI 2⋅11, 7⋅62), not eating snacks (AOR = 3⋅40; 95 % CI 1⋅42, 8⋅15), not consuming fish (AOR = 3⋅53; 95 % CI 1⋅65, 7⋅56) and chicken (AOR = 2⋅53; 95 % CI 1⋅31, 4⋅88) at least once a month, and intestinal parasitic infection (AOR = 2⋅78; 95 % CI 1⋅52, 5⋅08) predicted zinc deficiency. In conclusion, ZD is a public health problem among pregnant women around Lake Awasa. The present study demonstrated that poor socio-economic status, large family size, poor nutritional practices and intestinal parasitic infection determine the zinc status in the present study area. The findings suggest the need for further analysis to deepen the understanding about ZD and consideration of livelihood in interventions to prevent and control ZD among pregnant women in Hawassa City, Ethiopia.