BackgroundColorectal cancer (CRC) is the third most common cause of cancer death in both genders worldwide.AimsThis study aimed to evaluate the outcomes and prognostic factors of CRC patients at Tikur Anbessa Specialized Hospital in Ethiopia.Methods and ResultsA prospective cohort study was conducted on 209 patients from January 2020 to September 2022. Kaplan–Meier curves and bivariate and multivariate Cox regression analyses were used to analyze overall and progression‐free survival, with a significance value of P < .05. Results showed an overall mortality rate was 67.46% (95% confidence interval [CI]: 61.0–74.0), while the 1‐year overall survival (OS) rate was 63.16% (95% CI: 56.23–69.29), with a median follow‐up duration of 20 months. The median OS and progression‐free survival times were 17 and 11 months, respectively. Age above 40 years (hazard ratio [HR] = 1.53, 1.02–2.29, p < .040), lower educational level (high school and below) (HR = 2.20, 1.24–3.90, p < .007), poor performance status (HR = 1.60, 1.03–2.48, p < .035), Hgb ≤12.5 g/dL (HR = 1.55, 1.03–2.08, p < .035), T‐4 disease (HR = 6.05, 2.28–16.02, p < .000), and metastases at diagnosis (HR = 8.53, 3.77–19.25, p < .000) were all associated with poorer survival.ConclusionThese findings suggest that poor survival of CRC patients in Ethiopia is largely due to advanced stage of the disease and lack of timely treatment, and highlight the urgent need for improved access to cancer treatment in the region.