Malaria, a disease of public health caused by the Plasmodium species and transmitted to humans through the bites of mosquitoes, has been prevalent in sub-Saharan Africa for hundreds of years. Although various prevention and control strategies have been applied, the malaria incidence remain high in sub-Saharan Africa, which is an important factor that slows down the economic development in this region. However, unlike other diseases regarded as the consequence of poverty, malaria can possibly be a cause of poverty as well. Given that relationship between malaria and wealth can be crucial for policy makers, the research question that to what extent household wealth and malaria incidence rate are related to the other is proposed. To answer this question, several malaria survey datasets from the Demographic and Health Surveys (DHS) are used for analysis in this research. To deal with the possible homogeneity issue between malaria positive rate and wealth, a regression system with year and region fixed effects is set up and estimated using three-stage least squares (3SLS). It turns out that there is a mutual cause-and-effect negative relationship bewteen malaria positive rate and wealth. Better water source, having access to electricity and bednets, together with urbanization will contribute to lower malaria incidence rate as well as higher wealth level.