The impact of COVID-19 on farmers’ livelihoods and food security is a key concern in rural communities. This study investigates the impacts of the livelihood assets on the food security of rural households during the COVID-19 pandemic and determines those factors related to food security. The population of this study includes rural households in Dashtestan county, Bushehr province, in southern Iran. Based on the Krejcie and Morgan sampling table, 293 households were selected using the convenience sampling method. To measure food security, the American standard index and ordinal regression are used to analyze the factors. The results of the food security situation show highly precarious and food insecure situations among the studied rural households. The regression analysis shows that the most important assets affecting the food security of rural households under COVID-19 are financial, psychological, physical, and human assets, respectively. The results can help rural development planners and policymakers to improve both livelihoods and food security in rural communities, not just during the COVID-19 pandemic, but also in its aftermath.