The main objective of this study was to assess the existing ecotourism development potentials in the Awash National Park and major challenges for its sustainability. To this end, data was gathered from primary and secondary sources by qualitative and quantitative approaches. First hand information was obtained through intensive reading of local archives and institutions and through field observation as well as through interview with purposively selected knowledgeable informants. As to secondary sources, the works of various scholars with different academic and life experiences were consulted. Moreover, statistical data released by local, national and international institutions that have stake in tourism industry was used for this study. The collected data were analyzed and interpreted through tabulation, chart and percentage. The findings showed that Awash National Park and the surrounding community, if its tourism shareholders including the local community act cooperatively and strategically to deal with challenges, have viable potential to be developed as important ecotourism destination.