Background: Acute malnutrition is the clinical term for under nutrition, a major concern of the health sector. Past studies have focused more on the prevalence and of its associated factors. However, there is very little knowledge on early and precise finding of acute malnutrition among Productive Safety Net Program beneficiary children in the study area, Amhara region and Ethiopia, thus the outcome of this study provides remedy for early detection and precise conclusion. Objective: To compare magnitude and associated factors of acute malnutrition (wasting) among Productive Safety Net Program and non beneficiary children aged 6-59 months at libo kemkem selected Keble, Amhara, Ethiopia, 2017. Method: A community based comparative cross-sectional study was done after select kebeles purposely simple random sampling was used to select representative samples of 945 (n1= 473, n2= 472) children’s at ten kebeles. Data enter in EPI INFO 7 and Weight-for-height enters and calculates using ENA for SMART and export to SPSS windows version 20 to be processed and analyzed. Result: The magnitude of wasting was higher in the children of Productive Safety Net Program beneficiary children 11.2% (8.7 - 14.4 95% C.I.) as compared to child wasting from Non Productive Safety Net Program beneficiary 6.6% (4.7 - 9.2 95% C.I.). Bivariate and multivariable analysis was done to establish association among the independent variables and outcome variable. Monthly income AOR (95%CI) 7.13 (2.49, 20.42) and AOR (95%CI) 2.99(1.06, 8.39) , family size AOR (95%CI) 5.42(1.82, 16), sex of the child AOR (95%CI) 3.46(1.34,8.39) and having backyard garden to grow fruit and vegetable AOR (95%CI) 3.22 (1.07,7.90) were factor associate with Non beneficiary and sex AOR (95%CI) 4.26 (2.06, 8.78), main source of water AOR (95%CI) 2.06(1.01, 4.23), and make decision on money AOR (95%CI) 4.13 (1.94, 8.77) were the factors associated with child wasting from the Productive Safety Net Program beneficiary. Conclusion: When compared prevalence of wasting children of productive safety net beneficiary were higher than that of non beneficiary. Various factors were associated being food insecure were about 31.5% at higher risk to be wasted. To effectively tackle malnutrition, nutritional programs should be oriented to local needs.