The aim of this study was to examine the factors that affect the deposit growth of selected private commercial banks in Ethiopia. This study also examines both macroeconomic and bank-specific factors affecting the deposit growth of selected private commercial banks. The researcher used an explanatory research design and collected data from a secondary panel dataset covering the years 2013 to 2022. Those 12 private commercial banks were selected through purposive sampling. Quantitative data was gathered from the national banks of Ethiopia, the World Bank, and the annual reports of private commercial banks. The researchers used multiple linear regression models and Stata software to analyze the data. The study found that factors such as customer growth rate, capital adequacy, Treasury bill rate, and foreign remittance growth rate have a positive and statistically significant effect on deposit growth in private commercial banks. However, branch expansion rate had a positive effect that was not statistically significant. Government expenditures had a negative and significant effect on deposit growth.