An image capturing optical lens assembly includes, in order from an object side to an image side, a first lens element with positive refractive power having a convex object-side surface and a concave image-side surface, a second lens element with negative refractive power, a third lens element with negative refractive power having a concave object-side surface and a convex image-side surface, and a fourth lens element with refractive power having a concave image-side surface. The object-side surface and the image-side surface of the fourth lens element are aspheric. Either or both of the object-side surface and the image-side surface have at least one inflection point formed thereon.