Wheat productivity in Ethiopia remains low (3.1 ton ha-1), highlighting the need for genetic improvement programs. This study assessed genetic variability, heritability and correlation analysis in 160 bread wheat genotypes tested across 2 sites and seasons using an alpha lattice design. The study revealed substantial variation in yield and related traits, indicating a strong potential for selection. Grain yield showed high genetic and phenotypic coefficients of variation, while those for 1000 kernel weight (TKW) and spike length were moderate and for most other traits, they were low. Genetic advance was notable only for yield and TKW, with high genetic advance as a percentage of mean (GAM) observed for yield, TKW and spike length. Spikelet number and kernel number per spike displayed moderate GAM, whereas remaining traits were low. High heritability (>60 %) for most studied traits indicate that the observed variations were predominantly under genetic control and less influenced by the environment. Moreover, a significant positive correlation was observed between agronomic traits. These findings provide valuable guidance for breeders in developing high yielding wheat varieties adapted to diverse environments.