Introduction Paternal postpartum depression (PPPD) is an important public health issue that can negatively affect relationships among fathers, partners, and children. However, research on this issue in Saudi Arabia is lacking. We aimed to determine the prevalence and risk factors for PPPD among Saudi fathers. Methods This cross-sectional study was conducted among Saudi fathers in King Abdulaziz Medical City, Jeddah. We included all fathers of newborns aged ≤6 months while excluding those with a history of depressive disorder. A self-administered questionnaire was sent to all participants. The Arabic version of the Edinburgh Postnatal Depression Scale (EPDS) was used to screen individuals for PPPD. Results The total number of respondents was 223. Approximately 30.9% of participants had PPPD based on an EPDS cutoff value of ≥9. Significant risk factors associated with PPPD were whether the father had lost a child (p = 0.0083) and whether the father had a family history of depression (p = 0.0028). Conclusion Our findings suggest that PPPD is prevalent among Saudi fathers; therefore, there is an urgent need for further research on PPPD. The results of this study will contribute to establishing preventive and intervention programs.