A zoom lens with a zoom ratio of about three includes a first lens group of negative refractive power that moves along an optical axis during zooming relative to a second lens group of positive refractive power and having a vibration-proof function to correct for hand shaking that causes image blurring. The second lens group includes a first lens subgroup on its object side having positive refractive power and at least one aspheric surface, and a second lens subgroup having positive refractive power. The second lens subgroup is movable in a direction perpendicular to the optical axis of the zoom lens in order to correct for vibration of the zoom lens. The second lens group satisfies a condition regarding the ratio of focal lengths of the two lens subgroups, and the second lens subgroup satisfies a condition regarding its transverse magnification at the telephoto end.