A compact zoom lens system having excellent optical performance. The zoom lens system includes a first lens unit of negative optical power, a second lens unit of positive optical power, a third lens unit of positive optical power, and an F-number defining member. The second lens unit is disposed on the image side of the first lens unit and includes a lens element disposed closest to the object side. The lens element has a rim, a surface on the object side and having a vertex, and an intersection point defined by an intersection between the surface and the rim. The third lens unit is disposed on the image side of the second lens unit. The F-number defining member is disposed along the optical axis between the vertex and the intersection point. Spaces between the first, second and third lens units vary during zooming.