Effective leadership and academics job satisfaction are two factors that have been considered as fundamental requirements for universities success. By using appropriate leadership style, academic leaders can influence their faculty’s Job satisfaction positively. The major purpose of this study is, therefore, aimed to examine the relationship between leadership style and faculty’s job satisfaction at five selected Ethiopian public universities. Accordingly, primary data was collected from 402 faculty members using self-administered survey questionnaires. The instruments used to collect data were adapted from Multifactor Leadership Questionnaires (MLQ) “rater form” to measure the leadership style exercised by Heads of departments and deans and Spector’s job satisfaction survey (JSS) nine facets measures of Job Satisfaction. Primary data was collected from faculty members and department heads at five public higher education institutions. By design, the study is both descriptive and quantitative correlational research using deductive approach. The descriptive statistics results of the study showed that heads of the departments and deans exhibited combination of transformational, transactional and laissez-faire leadership styles as perceived by subordinates. The study revealed that transformational leadership style was found to be the major behavior practiced by both heads of the department and deans as perceived by faculty members, followed by transactional leadership style and lastly Laissez-faire leadership behavior was practiced with least frequency. The results of Correlation analysis indicated that subordinate perceived inspirational motivation behaviors displayed by deans and heads of the department and faculty job satisfaction was correlated higher than other transformational leadership style components and the correlation is moderate. From the transactional leadership components, contingent reward was positively and significantly related with job satisfaction. The findings of this study proves that transformational leadership is perceived the most effective leadership style in Ethiopia and affirm that the full range leadership theory is supported in Ethiopian settings.