Background: A community based newborn care was very important to the survival of newborns. The program is primarily provided by Health Extension Workers. However, the quality of the care in relation to caretakers’ satisfaction has not been adequately documented. Therefore the aim of this study was to assess satisfaction of caretakers on Community-Based Newborn Care and its predictors in Boloso Sore District in South Ethiopia.Methods: A community based cross-sectional study design was done on 426 caretakers with infants’ age less than 6 months. The outcome measure was satisfaction of caretakers. Socio-demographic characteristics and service utilization of respondents, and institutional and provider-related factors were predictors of caretakers’ satisfaction on the service. Structured questionnaire developed from relevant literatures and pretested before in use. The outcome was measured by using a 5-point Likert scale of seven questions (items). The seven items were also assessed for overall reliability (Chronbach’s alpha=0.94). A multivariate logistic regression was used to identify predictors of satisfaction of care takers by controlling potential confounders.Results: Based on this study 48.8 % of caretakers who received the Community Based Newborn Care from health extension workers were satisfied. Factors associated with their satisfaction were, educational status (AOR: 3.38, 95%CI: 1.02-11.27), postnatal care given by HEWs (AOR: 0.61, 95%CI: 0.39-0.98), recent child birth at home (AOR: 1.95, 95%CI: 0.99-3.86).Conclusions: More than half of caretakers who received CBNC from health extension workers in the study area were dissatisfied with the service. Public health interventions focusing on postnatal care and promoting institutional delivery might contribute to improve caretakers’ satisfaction.