Objectives: We sought to estimate the prevalence of depression among Oman Medical Specialty Board (OMSB) residents and determine the relationship between depression and sociodemographic characteristics. Methods: We conducted a cross-sectional survey from January to March 2017. A self-administered questionnaire was distributed to all residents enrolled under different OMSB training programs. Information was obtained on the sociodemographic characteristics. The Patient Health Questionnaire-9 (PHQ-9) was used to screen for depressive symptoms. Results: A total of 399 residents (158 males and 241 females) participated in the study. Overall, 115 residents had a PHQ-9 score of 5 or more, giving a prevalence of depression of 28.8%. Of those who were depressed, 85 (73.9%) had mild depression, 20 (17.4%) had moderate depression, and 10 (8.7%) had severe depression. There was a significant association between depression and participants' gender (p = 0.030), level of residency (p = 0.006), sleep duration (p = 0.001), and exercise (p = 0.019). There was no significant association between depression with the other demographic characteristics such as marital status (p = 0.489), specialty (p = 0.370), smoking (p = 0.953), or drug use (p = 0.060). Conclusions: Depression is a common issue among medical residents. Health education on the harmful effects of depression needs to be addressed. Further research on the consequences of depression and its effects on quality of life and academic performance is needed.