Corporate social responsibility (CSR) nowadayâ€™s become an element that addresses sustainable development issues and it turn out to be more vital in the daily operations of financial institution especially in the banking sector. The aim of this study is to assess the relationship between CSR practice and profitability in selected private banks in Ethiopia, specifically Dashen and United banks. The study used convenience sampling method to sample out the two banks among the sixteen private banks operated in the country. The target population comprised 1532 head office employees of the selected banks and 317 samples were selected using random sampling technique. The study used questionnaires as an instrument for data collection. In order to test the reliability of the instrument, the Cronbach alpha test is used. Pearson correlation and multiple linear regression analysis were employed to estimate the relationships between CSR and Profitability. The responses of the respondents were analysed using descriptive Statistics, correlation, and regression analysis with the aid of SPSS version 20. The findings of the study revealed that ethical, philanthropic, legal and economic responsibilities of CSR dimension have a positive and significant impact on profitability of the banks. The overall finding of this study suggests that CSR practice of banks has a significant impact on the level of their profitability. The study recommends that banks should improve their efforts exerted towards their CSR practice in order to enhance their profitability.