Objectives: Given the importance of anemia-induced adverse effects on progression of diabetes mellitus (DM), the main aim of this study is to evaluate anemia prevalence amongst diabetic patients hospitalized in a tertiary hospital. The impacts of some critical determinants, including age, gender, duration of diabetes, glycemic status (HbA1c), and lipid profile on anemia comorbidity or progression of DM, were also assessed. Methods: In this cross-sectional study, all diabetic patients with anemia consecutively referred to the hospital in the first six months of 2018 were included. Data collection was performed according to the electronic medical records using a prepared checklist. Data analysis was also performed by SPSS. ver. 26. Results: A total of 212 participants, 142 females (67%) and 70 males (33%), were included, with a mean age of 53.5±14.4. Based on the Hb and hematocrit measurements, anemia was observed in 71 (33.4%) and 76 (35.8%) patients, respectively. In addition, it was found that the prevalence of anemia directly correlates with aging in diabetic patients. Besides, the prevalence of anemia was higher in the patients with a diabetes duration ranging 5 to 10 years, while its prevalence was remarkably less common in those with diabetes duration of ≥20 years. Notably, anemia was reported more frequently in diabetic patients with desirable lipid profiles. Conclusion: Based on our findings, lipid profile measurement should not be considered a reliable indicator to determine anemia prevalence. In this regard, early diagnosis of anemia by applying a simple hematologic test is highly recommended, which can be more helpful in preventing subsequent renal and cardiovascular adverse events.