Undernutrition has been identified as a significant public health challenge in developing nations like Tanzania. Severe childhood undernutrition is a life‐threatening problem that can result in impaired growth, weakened immune systems, and even death. The primary aim of this study was to identify the prevalence of multiple forms of severe undernutrition and factors associated with the severity of childhood undernutrition in children aged 6–59 months in Tanzania. This was a secondary data analysis conducted on a cross‐sectional survey obtained from the 2022 Tanzania Demographic and Health Survey Malaria Indicator Survey (TDHS‐MIS). This analysis comprised 4224 children with complete information. The study employed the proportional odds model of ordinal logistic regression to identify factors associated with severity of stunting, wasting, and anemia. Out of the 4224 included children, 8.6% were severely stunted, 0.8% were severely wasted, and 1.7% were severely anemic. The prevalence of multiple forms of severe undernutrition was 10.4%. Significant associations were observed between socioeconomic factors—including the gender and age of the household head, household wealth status, possession of health insurance, and availability of mosquito nets with severe undernutrition. Maternal factors such as nutrition status, current age, age at first birth, education, marriage, and occupation were related to the severity of undernutrition. Approximately one children out of every 10 suffers from some form of severe undernutrition in Tanzania. Several factors including maternal and socioeconomic were identified as potentially influencing severe undernutrition. Multifaceted efforts are required to lessen the severity of undernutrition.