A zoom lens having at least a first lens group including a reflection member for bending an optical axis fixedly during zooming and having a negative refractive power, a second lens group having a negative refractive power, and a third lens group arranged in the order from an object side is provided. In the zoom lens, an image can be shifted into a direction perpendicular to the optical axis by moving either of the second and the third lens groups ("shift lens group") in a direction perpendicular to the optical axis, and a following conditional expression (1) is satisfied, 0.5<(1-.beta..alpha.).times..beta.b<3.0, (1) where: .beta..alpha.: a magnification of the shift lens group in a maximum telephoto state, and .beta.b: a magnification of a lens group arranged on an image surface side of the shift lens group in the maximum telephoto state.