A cross-sectional study was conducted from October, 2013 to April, 2014 on cause of organ condemnation, its public health and financial significance in Nekemte municipal abattoir in East Wollega zone, Oromia regional state of Ethiopia. The overall objective was to determine the cause of organ condemnation, its public health and financial significance due to fasciolosis, hydatidosis, Cysticercus bovis and other causes. Accordingly, a total of 534 randomly selected slaughtered cattle were examined both during antemortem and postmortem. There were many physical abnormalities such as localized swelling 12(2.25%), laceration 2(0.37%), branding 21 (3.93%), lameness 11(2.06%), abrasion 4(0.74%), nasal discharge 7(1.31%), and lacrimation 5(0.94%). During postmorterm, inspection organs were condemned due to fasciolosis [liver 65(12.17%)], hydatid cyst [liver 94(17.6%), lung 65(12.17%)], Corynebacterium bovis [heart 8(1.49%) and carcass 2(0.37%)]. The chi 2 analysis of potential risk factors revealed that there was statistically insignificant difference in age, altitude and body condition between animals from different origin (P > 0.05). The total annual direct financial loss from organ condemnation due to hydatidosis, fasciolosis, C. bovis and other causes was estimated to be 1.056,155.05 Ethiopian Birr (ETB) annually = 52807 USD. The result of this study revealed that hydatidosis (12.73%) is the major disease causing direct economic losses significantly in the study area followed by fasciolosis (12.7%) and cysticercosis (2.4%).