Malaria remains a major public health challenge, particularly in sub-Saharan Africa, with significant economic consequences for endemic countries like Ethiopia. This study examines the global malaria burden, focusing on its prevalence, transmission dynamics, and economic impact in Ethiopia. Using a qualitative approach and secondary data from government reports, academic journals, and international health organizations, the research highlights Ethiopia's progress in malaria control alongside persistent challenges. Findings reveal that despite a decline in cases from 1.5 million in 2010 to around 1 million in 2019, malaria continues to impose a heavy economic burden. Direct healthcare costs account for approximately 20% of expenditures in endemic regions, while productivity losses exceed $200 million annually. The study underscores the need for sustained investment in prevention, vector control, and healthcare access, as well as addressing socioeconomic determinants such as poverty and education. A multifaceted approach is essential to reduce malaria's economic toll and support Ethiopia's broader development goals.