A cross sectional study was conducted from July 2013 to March 2014 to evaluate the prevalence and economic impact of bovine fascioliasis at Hawzien abattoir, Eastern Tigray, Northern Ethiopia. A total of 215 cattle were randomly selected from those cattle slaughtered at Hawzien abattoir. Liver and related bile ducts were carefully inspected by visual inspection, palpation and systematic incision. Data were analyzed using SPSS statistical software version 16.0. P-values <0.05 were considered statistically significant. The overall prevalence of bovine fasciolosis in the present study was 46 (21.39%) among the total slaughtered cattle in the abattoir. The current finding showed that Fasciola hepatica was higher prevalent than Fasciola gigantica with 17.21% and 4.2% respectively. Comparisons were made among the examined animals based on their sex, age and body condition. Accordingly, sex and age didn't show effects in cattle examined (p>0.05). However, body condition had effect on the prevalence of fasciolosis (p<0.05) with higher infection occurring in medium body conditions. The total annual direct economic loss as a result of liver condemnations was 885,500 ETB indicating that the disease is economically important on livestock production system in the study area.