Introduction: Anemia and iron deficiency are public health problems worldwide affecting mainly children under 5 years with effect on their development. This study aims to determine the prevalence and associated factors (micronutrients, child characteristics and sociodemographic characteristics)with anemia and iron deficiency in Colombian children between 1 and 5 years. Methodology: Observational cross-sectional study of 4130 children, using data from the national survey of nutritional status (ENSIN 2010). Dependent variables: anemia, iron deficiency, hemoglobin and ferritin. Bivariate correlations and quantile regressions to determine factors associated with hemoglobin and ferritin were performed. Chi-square and binomial logistic regressions were performed to determine factors associated with anemia and iron deficiency. Results: Prevalence of anemia:13.8% (IC 95%: 12.8- 14.8) and prevalence of iron deficiency:10.9% (IC95% 10.7-11.1).The factors associated with anemia were living in rural areas, altitude, ethnicity African descent, wealth index quintile, weight and presence of iron deficiency.16.3% of anemic patients had iron deficiency. Factors related to iron deficiency were age, belonging to indigenous groups, Pacific region and no social security affiliation. Conclusions: The presence of anemia in our population is a multifactorial condition that warrants the study of other etiologies besides iron deficiency. Risk factors found are conditions that may be related to increased poverty and food insecurity, which in addition to the implementation of nutritional substitution programs must be implemented public policies to improve the socioeconomic conditions of these risk groups.