The study aimed at establishing community prevalence of asymptomatic malaria parasitemia in Ife North Local Government Area of Osun State, South Western, Nigeria. One hundred and sixty-seven (167) healthy volunteers and forty (40) clinically diagnosed and laboratory proven malaria cases (purposeful controls) were recruited into the study. The age range of subjects was between 5 and 55yrs. Of the 167 healthy volunteers, five tested positive and developed malaria within the period of twenty-one (21) days follow up and were excluded from the study, while two (2) defaulted. Out of the remaining 160, a total of 38 (23.8%) of the subjects were found to have asymptomatic malaria parasitemia by microscopic technique, while 35 (21.9%) tested positive by Rapid OptiMAL-IT method. Plasmodium falciparum was the only species among the positive cases. Prevalence rates for 1 malaria parasitemia were highest among the youngest age groups (10-15yrs) and lowest in those 40yrs of age and older. It can be inferred from the above findings that there is need for prophylactic antimalaria for the communities in the local government and aggressive treatment of the symptomatic ones.