Irrigation plays a crucial role in enhancing food production, increasing land productivity, and improving the livelihoods of smallholder farmers in Sub-Saharan Africa (SSA). Solar pumps and water harvesting ponds have emerged as promising technologies for sustainable agriculture for smallholders in SSA and beyond. The socio-economic impacts of these systems are less studied in the existing literature. This study examined the agricultural productivity of solar pump and water harvesting irrigation technologies and their impacts on income and food security among smallholder farmers in the Central Rift Valley, Lake Hawassa, and Upper Awash sub-basin areas in Ethiopia. Data were collected from 161 farming households that were selected randomly from woredas where solar pump and water harvesting pond irrigation systems had been implemented. The sample size was determined using the power calculation method. Bio-physical observation and measurements were also conducted at field levels. The benefit–cost ratio (BCR) and net water value (NWV) from the use of solar pump and water harvesting pond irrigations were analyzed to assess the viability of these systems. The household food consumption score (HFCS) and household dietary diversity score (HDDS) were calculated to measure food security, while the revenue from crop production was used to measure crop income. An endogenous switching regression model was applied to address the endogeneity nature of the adoption of the irrigation technologies. The counterfactual analysis, specifically the Average Treatment Effect on the Treated (ATT), was used to evaluate the impacts of the irrigation technologies on income and food security. Results indicate that the ATT of crop income, HFCS, and HDDS are positive and statistically significant, illustrating the role of these irrigation systems in enhancing smallholder farmers’ welfare. Moreover, smallholder farmers’ solar pump irrigation systems were found to be economically viable for few crops, with a BCR greater than 1.0 and an NWV ranging from 0.21 to 1.53 USD/m³. It was also found that bundling agricultural technologies with solar pump irrigation systems leads to enhanced agricultural outputs and welfare. The sustainable adoption and scale-up of these irrigation systems demand addressing technical and financial constraints, as well as input and output market challenges.