This study aimed at assessing genetic variability and to evaluate the performance of 13 improved upland rice varieties for yield and its components based on morphological traits. The field experiment was conducted using randomized block design at Guraferda and Gimbo districts in 2019 main cropping season. The analysis of variance (ANOVA) over the two locations revealed significant differences (p≤ 0.05) among varieties for days to 50% heading, days to 85% maturity, panicle length, thousand grain weight and grain yield. Similarly, the ANOVA for variety by location interactions depicted significant differences among the tested varieties for days to 50% heading, days to 85% maturity and thousand grain weight. High heritability was obtained from days to heading (88.5%), panicle length (85.0%) and grain yield (85.2%), which indicates these traits can be easily improved through selection. High to medium broad sense heritability and genetic advance as percentage of the mean for days to heading, thousand grain weight and grain yield indicates good opportunity for improvement through selection using their phenotypic performance. This is mainly due to the high role of additive gene action for the expression of such traits. This study confirmed the presence of variability among varieties for most of the studied traits, which will create an opportunity for breeders to improve rice yield and other attributes.