A zoom lens system, in order from the object side to the image side, comprises a first lens unit G1 having positive optical power, a second lens unit G2 having negative optical power, a third lens unit G3 having positive optical power and a fourth lens unit G4 having positive optical power. Magnification varying is performed by varying the distances between the lens units by moving the lens units along the optical axis. The third lens unit G3 comprises at least two lens elements including a third lens unit object side lens element which is a positive lens element disposed on the most object side and whose high-curvature surface faces the object side and a third lens unit image side lens element which is a negative lens element disposed on the most image side and concave to the image side. The zoom lens system satisfies predetermined conditions, and in which the magnification variation ratio is approximately 5 to 6.times., the overall lengths at the time of shooting and at the time of non-shooting are short and resolution is high.