Abstract: A cross-sectional study was conducted from November, 2014 to March, 2015 at Assela municipal abattoir to assess prevalence and economic significance of bovine fasciolosis. Out of 349 cattle examined at post mortem, 30.1% (105) were positive for fasciolosis. Age, Sex and body condition of the animal was not found as a significant factor (p > 0.05) affecting the prevalence of disease. The prevalence of F. hepatica was 69.5% (73), which was predominant among Fasciola species, causing bovine fasciolosis in the study areas. Whereas, the prevalence of F. gigantica was 15.24(16), and 15.24% (16) animals harboured mixed infection. There was a statistically significant association (P=0.000) between the different mode of affection of liver and fasciolosis prevalence.