Climate change and variability causes long term effects on human systems. However, notrnall individuals and groups exposed to a certain climate change-related hazard arernequally vulnerable. Vulnerability of human systems, therefore, depends on exposure tornclimate change the sensitivity and adaptive capacity of the system . .It is with this basicrnnotion that this paper tried to assess the vulnerability of farmers in Lode Hetosa woredarnto impacts of climate change and variability and their water related adaptation strategiesrnby taking flood and drought in to account. The research was done based on householdrnsurvey conducted in the study wereda on 135 selected farmers from three agI'o ecologies,rnnamely kolla, woinadega and dega. Beside the household survey, inputs from local andrnfederal government officials, experts, community leaders and development partners in therntarget area were also participated as key informants, FGD and community mappingrnparticipants. The study revealed that the three agI'o ecologies in the woreda are notrnequally affected by the selected hazards-jlood and drought. Flood is found to be the mostrnserious hazard in degalhighland agm ecology while drought is a major threat inrnkollallowland and woinadegalmidland agro ecology. The result of the study also showedrnthat farmers in dega agro ecology have less adaptive capacity and depend on highlyrnsensitive livelihood sources than their kolla and wOinadega counterpart in the studyrnarea .. An intra-community comparison of the study showed that households headed byrnwomen, elderly, children and illiterate household heads were foud to be more vulnerablernto climate related impacts., Besides, the farmers in the study area were also found to berngenerally vulnerable as the degree of dependence on natural resource based livelihoodsrnis higher and the share of non farm income and livelihood diversification is gel/emilyrnlower in all the three agI'o ecologies. Added to these, application of planned water-relatedrnadaptation strategies in the study area is found to be low and is influenced by thernstatus of farmers' vulnerability to climate change. Generally, the study suggests that thernstatus of farmers' vulnerability and application of water related adaptation strategies isrnlow and hence much effort is needed in the foture to improve the adaptive capacity of therncommunities so as to reduce their vulnerability ..rnKey words: Vulnembility, Adaptive Capacity, Climate change, Adaptation