Perinatal mortality is defined as both stillbirth and early neonatal deaths which occurs from 28 gestational age of pregnancy for seven completed days after birth or at least one kilogram. Perinatal mortality is a health indicator for prenatal, intra partum and newborn care. It is one of the major challenges for under-five mortality. Up to the knowledge of principal investigator while searching different literatures, there is a limited number of studies have related to perinatal deaths in our country. Most of the researchers have used secondary data. Therefore; this study may fill this gap by assessing the magnitude of perinatal mortality and associated factors among babies born based on the primary data. Institutional based cross sectional study design was conducted among 631study participants. Epi-data 4.2 and SPSS Version 21 was used for data entry and analysis respectively. The variable associated with the outcome variable in Bivariate p value <0.25 was considered for further multivariable analysis to control for potential confounding. Crude and Adjusted Odd Ratios was calculated to assess the association between dependent and independent variable with 95% CI. The variable which shows p ≤0.05 was considered as statistically significance. The magnitude of perinatal, mortality was found to be 9.0% (95%, CI: 7%-11%). Maternal age less than 18 years (AOR, 4.80CI; 1.33-17.33), history of perinatal loss (AOR 9.47, CI:3.32-26.98), gestational age less than 37weeks (AOR,4.01 CI:1.56-10.28), Apgar score (4-6) (AOR,5.24, CI:1.93-13.30) and low birth weight (AOR, 4.64CI:1.85-11.60) was significantly associated with perinatal mortality. Generally, this study has high perinatal death, which needs more attention. Maternal age less than 18 years, gestational age less than 37 wks, low birth weight, history of perinatal loss and (4-6) Apgar score at 5 minutes were significant predictors of perinatal death.