The study sought to examine the effect of ownership structure on financial performance of manufacturing firms listed at the Nairobi Securities Exchange in Kenya. The study focused on four types of ownership that include; government ownership, foreign ownership, management ownership and local ownership. The study adopted a descriptive research design and targeted a total of 10 manufacturing firms listed at the Nairobi Securities Exchange. Data was collected from targeted firm’s financial statements for a period of 5 years (2016-2020). The study established: a significant and positive relationship between government ownership and financial performance of manufacturing firms listed at the Nairobi Securities Exchange; the study concluded that ownership structure of listed manufacturing firms affects financial performance. Based on the findings, the study recommended the need for firm managers and general investors to be trained on best ownership plan that can aid firm’s productivity.