Malaria and anemia are significant public health threats to pregnant women in Nigeria. This study assesses malaria prevalence and risk factors associated with anemia among randomly selected 150 pregnant women attending antenatal clinic at the Federal Medical Center, Owerri, Imo State, Nigeria, over a four-month period. Well structured, interviewer administered questionnaire was used to collect data on socio-demographic characteristics. Hospital records provided information on their hematological and parasitological parameters including history of anemia, malaria cases, hookworm infection and nutritional deficiency tests for iron and vitamins. The data were collected and subjected to statistical analysis. Classification of anemia was based on World Health Organization criteria on hemoglobin concentration. The result showed that the overall prevalence of malaria among the women was 78 (52.0%). Out of this value, majority of the women, 61(40.7%) were mildly anemic, while 15(10.0%) were moderately anemic. Only 2 (1.3%) of the women were severely anemic. The risk factors associated with the anemia among the women included iron deficiency 27(34.6%), malaria 23(29.5%), foliate deficiency 13(16.7%), vitamin B12 deficiency 10 (12.8%) and hookworm infection 5(6.4%). The outcome of this study suggests the need for the concerned antenatal clinics to step up screening program on Hb-levels, iron, folic acid and vitamin B12 deficiencies tests for all pregnant women. Adopting iron and vitamin supplements in diet for pregnant women, use of insecticide treated nets, elimination of breeding sites for mosquitoes and proper waste disposal also are strongly advocated.