Capital structure is an important aspect of financial management however the influence of macroeconomic factors in the determination of capital structure is to some extent under-researched. This article analyzes the influence of the macro economic factors on the capital structure of selected listed companies in Kenya. The article through analytical and descriptive research design aimed at determining the magnitude and the direction of the relationship between selected macroeconomic variables on corporate capital structure of listed companies in Kenya. An econometric model of multiple linear regressions was used where leverage (debt ratios) was regressed against GDP growth rate, inflation and interest rate. The study revealed that indeed macro economic factors have pronounced influence on the capital structure of the listed companies. GDP growth rate was found to have a positive influence on long term debt ratio and a negative influence on total debt ratio and short term debt ratio. Inflation on the other hand had a negative influence on the short term debts while interest rates as measured by the treasury bills have a positive influence on the long term debt ratio and total debt ratio and a negative influence on the short term debt ratio.