A zoom lens system having a high zoom ratio and excellently correcting various aberrations over an entire zoom range between a wide angle end and a telephoto end to obtain high optical performance in the entire zoom range, includes, in order from an object side to an image side, a first lens unit having a positive refractive power, a second lens unit having a negative refractive power, a third lens unit, and a fourth lens unit. The fourth lens unit includes a front subunit and a rear subunit, the rear subunit being constituted by two negative lenses and at least three positive lenses. The rear subunit includes a first rear-subunit and a second rear-subunit. Each of the first rear-subunit and the second rear-subunit includes a negative lens and at least one positive lens. Lens materials are suitably set for the first rear-subunit and the rear second-subunit.