The objective of this paper is to analyze the impact of total factor productivity and employment level on economic growth of Saudi Arabia. The data used in the analysis is a time series data covering the period 2005-2019, and a semi-log regression model was estimated. The results showed that real GDP growth is fluctuating during the study period depending on oil price level. The total factor productivity in Saudi Arabia lagged behind that of many emerging economies. The model results revealed that the total factor productivity is more important for economic growth than increasing the size of the labor force. The paper recommends policymakers seeking to foster economic growth in Saudi Arabia, to put more emphasis on improving productivity of capital inputs and labor through adoption of proper technologies, training, and research and development.