Bamboo is an abundant resource in Ethiopia and has a great potential for commercialization, which can drive rural development. In view of these realities, this study analyzed the state and determinants of small-scale bamboo commercialization in Ethiopia. Data were collected from three major bamboo-growing districts (Awi, Sidama, and Sheka) and four urban centers (Masha, Hawassa, Bahir Dar, and Addis Ababa) via semi-structured interviews, group discussions, and questionnaire surveys with key actors along the value chain. Results revealed distinctive differences in proportion of cash income, value chain structure, and management engagement among the districts. Percentages of cash income were 60.15, 42.60, and 9.48 at Awi, Sidam, and Sheka, respectively. Differences were statistically significant between Sheka and both other districts (p = 0.05), but not between Awi and Sidama. The value chain structure showed that compared with Sheka, Awi and Sidama have a relatively large number of actors involved. The major factors explaining commercialization differences among regions were distance to market and presence of alternative forest products. Within Sheka, households with larger family size, higher education attainment, and access to training reportedly engaged more in commercial extraction. Therefore, we conclude that development of infrastructure for linking resource and consumer centers and expansion of extension education among producers may enhance the commercial engagement of producers and improve the accessibility of bamboo resources for commercial production.