Introduction Pediatrics cancer is one of the most important life-threatening, non-communicable diseases worldwide. However, pediatric cancer patients suffer from physical disabilities associated with cancer treatment. However, there is unclear information about level of health-related quality of life and associated factors. Aimed of this study was to assess level of Health-Related Quality of Life among pediatric cancer patients. Methods A hospital-based Analytical cross-sectional study design with a quantitative approach was employed among 91 conveniently sampled pediatric cancer patients with their parents/caregivers. Self-administered questionnaires were used to collect data. Data were analyzed using SPSS computer software program version 25. One-way ANOVA and linear regression were used to quantify and establish an association between Childhood Deprivation, Health-Related Quality of Life, and associated factors among Pediatric Cancer Patients at 95% CI, and a 5% level of significance. Results Results, the response rate was 92.3% (n = 84). The most prominent kind of pediatric cancer was Acute Lymphoblastic Leukemia 30 (35.7%) and Hodgkin lymphoma 11(13%). The mean age of pediatric cancer patients was 10.26±3.90 years while 59 (70.2%) were male. In linear regression, Childhood Deprivation (β=-1.640; P-value< 0.05) on PedsQLTM 4.0 and (β= -2.175; P-value< 0.01) on PedsQLTM 3.0. Findings imply that decreases the level of Childhood Deprivation, the chance of improving Quality of life increases. Conclusion The magnitude of acute lymphoblastic leukemia is higher among pediatric cancer patients. There was a significant link between pediatric cancers and childhood deprivation and thus, compromised quality of life. Innovative pediatric cancer care policies, guidelines, and or strategies may need to be advocated to address the problem accordingly.