This study was conducted in Agama Forest in Kafa Zone, Southwestern Ethiopia, to assess species diversity, vegetation structure, and regeneration status of woody species. A systematic sampling technique was employed to collect vegetation data. Sixty (60) sample plots of 25 m * 25 m were laid at 300 m intervals all along ten grids interspaced 800 m apart. Sample plots of 25 m * 25 m were used to record DBH and H of all woody plant species reaching a DBH 2.5 cm and height 2 m. For the inventory of seedling and sapling, two subplots of 2 m * 5 m were used at the beginning and the end of the baseline on opposite sides of the main quadrat. Vegetation data such as DBH, height, seedling, and sapling density of woody species were recorded in each plot. Altogether, 72 woody plant species of 65 genera and 35 families were identified. Analysis of selected tree species showed diverse population structures. This study showed that small trees and shrubs dominated the Agama Forest, which revealed its status under a secondary regeneration stage. Study on the structure and regeneration of some woody species indicated that there are species that require urgent conservation measures. Sound management and monitoring, as well as maintenance of biodiversity and cultural and economic values of the forest, require conservation activities that encourage sustainable uses of the forest and its products.