In this paper, we propose an ultrathin zoom lens system based on liquid lenses. The proposed system consists of an annular folded lens and three electrowetting liquid lenses. The annular folded lens has several concentric surfaces. The annular folded lens is used to get the main power and correct aberrations. The three liquid lenses are used to change the focal length and correct aberration. An analysis of the proposed system is presented along with the design, fabrication, and testing of a prototype. All the elements in the proposed system are very thin, so the system is an ultrathin zoom lens system, which has potential application as lightweight, thin, high-quality imagers for aerospace, consumer, and military applications.