Most studies conducted in Ethiopia have given attention to the study of static food insecurity with no concern on vulnerability to food insecurity. An understanding of vulnerability to food insecurity is critically important to inform the formulation of policies and strategies to enhance food security and reduce vulnerability to food insecurity among households. Thus, this study examined the level of households’ vulnerability to food insecurity and its determinants in North Shewa zone of Ethiopia using cross-sectional data collected from 382 sample households. The vulnerability of households to food insecurity was estimated using vulnerability as expected poverty approach. The factors which influenced vulnerability to food insecurity were analyzed using logistic regression model. Accordingly, based on the intensity of their vulnerability, households were grouped as chronic food insecure (43.72%), transient food insecure (12.57%), highly vulnerable-food secure (16.23%), and low vulnerable-food secure (27.49%). Overall, about 75.51% of households were categorized as vulnerable to food insecurity. These included households who were food insecure at the time of the survey (56.28%) and those who were categorized as transient food secure group (16.23%). In addition, logistic regression model results revealed that extension service, early warning information, agricultural technology, and crop diversity were the major factors affecting (negatively) households’ vulnerability to food insecurity. On the other hand, sex, rainfall variability and drought have increased the probability of being vulnerable to food insecurity. The findings imply that design and implementation of food insecurity policies and strategies need to focus not only on households that are currently food insecure, but also on those categorized as transient food insecure or households that are more likely to be food insecure in the near future.