Background: Globally, perinatal asphyxia is one of the leading causes of neonatal death, and this problem is high in low- and middle-income countries. Perinatal asphyxia accounts about 28% of neonatal deaths/year around the world. In Ethiopia, nearly one third (32%) of the neonatal deaths is caused by perinatal asphyxia. However, there is paucity of data on magnitude of perinatal asphyxia and associated factors in this study area. Objectives: To assess magnitude of perinatal asphyxia and associated factors among neonates admitted at neonatal intensive care unit of Sheik Hassan Yabare Jigjiga University referral hospital, Eastern Ethiopia, 2022. Methods: An institutional based cross- sectional study was conducted on a total of 364 samples from May 1, to June 1/2022 in sheikh Hassan Yabare Jigjiga University referral hospital. Data were collected through record review using pre-tested structured check lists. The collected data was entered into Epi-Data version 3.1, and then it was exported to SPSS version 25 for analysis. Descriptive statistics was used to provide an overall and coherent presentation of the data. Hosmer and Lemeshow goodness of fit test were done to test the fitness of the logistic regression. Variables with p-value less than or equal to 0.25 in bivariate analysis was entered to multivariate logistic regression analysis. Odd ratio with 95% Confidence Interval was conducted on variables to determine the strength of association and p-value less than 0.05 was taken as the cut off value to be significant. Result: In this study the magnitude of perinatal asphyxia was found to be 34.3%. Anemia during pregnancy (AOR: 3.37, 95%CI: 1.80 – 6.29), premature rapture of membrane (AOR: 2.00, 95%CI: 1.07 – 3.74), meconium-stained amniotic fluid (AOR: 6.85, 95%CI: 3.31 – 14.1), and fetal distress (AOR: 2.93, 95%CI: 1.47 – 5.83) were the factors associated with perinatal asphyxia. Conclusion and Recommendation: The magnitude of perinatal asphyxia in this study was high. The finding of this study also identifies anemia during pregnancy, premature rapture of membrane, meconium-stained amniotic fluid, and fetal distress were predictors of perinatal asphyxia. Therefore, during labor and delivery, for the fetus who is at risk for perinatal asphyxia, the health care providers better to improve their strict follow-up and be ready for neonatal resuscitation. Key words: Perinatal asphyxia, Magnitude, Associated factor, Jigjiga.