A zoom lens includes a first lens group having a negative refractive power, and second and third lens groups each having a positive refractive power, sequentially aligned from an object side. The first lens group is moved along an optical axis and the second lens group is moved along the optical axis toward the object side, during zooming from a wide-angle end state to a telescopic end state. The third lens group includes a negative sub-lens group having a negative refractive power, and a positive sub-lens group having a positive refractive power, sequentially aligned from the object side. Moving the positive sub-lens group orthogonally to the optical axis causes image shifting. The zoom lens satisfies a conditional expression (1): 0.3<1-.beta.<2.5, where .beta. is a magnification of the positive sub-lens group at the telescopic end state.