diff --git a/controllers/scaledjob_controller.go b/controllers/scaledjob_controller.go
index 0f0059bf3ac..2d3e91ffe64 100644
--- a/controllers/scaledjob_controller.go
+++ b/controllers/scaledjob_controller.go
@@ -62,6 +62,17 @@ func (r *ScaledJobReconciler) Reconcile(req ctrl.Request) (ctrl.Result, error) {
 
 	reqLogger.Info("Reconciling ScaledJob")
 
+	// Check if the ScaledJob instance is marked to be deleted, which is
+	// indicated by the deletion timestamp being set.
+	if scaledJob.GetDeletionTimestamp() != nil {
+		return ctrl.Result{}, r.finalizeScaledJob(reqLogger, scaledJob)
+	}
+
+	// ensure finalizer is set on this CR
+	if err := r.ensureFinalizer(reqLogger, scaledJob); err != nil {
+		return ctrl.Result{}, err
+	}
+
 	var errMsg string
 	if scaledJob.Spec.JobTargetRef != nil {
 		reqLogger.Info("Detected ScaleType = Job")
@@ -132,3 +143,12 @@ func (r *ScaledJobReconciler) requestScaleLoop(logger logr.Logger, scaledJob *ke
 
 	return r.scaleHandler.HandleScalableObject(scaledJob)
 }
+
+// stopScaleLoop stops ScaleLoop handler for the respective ScaledJob
+func (r *ScaledJobReconciler) stopScaleLoop(scaledJob *kedav1alpha1.ScaledJob) error {
+	if err := r.scaleHandler.DeleteScalableObject(scaledJob); err != nil {
+		return err
+	}
+
+	return nil
+}
diff --git a/controllers/scaledjob_finalizer.go b/controllers/scaledjob_finalizer.go
new file mode 100644
index 00000000000..82aa68328e3
--- /dev/null
+++ b/controllers/scaledjob_finalizer.go
@@ -0,0 +1,53 @@
+package controllers
+
+import (
+	"context"
+
+	"github.com/go-logr/logr"
+
+	kedav1alpha1 "github.com/kedacore/keda/api/v1alpha1"
+	"github.com/kedacore/keda/controllers/util"
+)
+
+const (
+	scaledJobFinalizer = "finalizer.keda.sh"
+)
+
+// finalizeScaledJob runs finalization logic on ScaledJob if there's finalizer
+func (r *ScaledJobReconciler) finalizeScaledJob(logger logr.Logger, scaledJob *kedav1alpha1.ScaledJob) error {
+	if util.Contains(scaledJob.GetFinalizers(), scaledJobFinalizer) {
+		// Run finalization logic for scaledJobFinalizer. If the
+		// finalization logic fails, don't remove the finalizer so
+		// that we can retry during the next reconciliation.
+		if err := r.stopScaleLoop(scaledJob); err != nil {
+			return err
+		}
+
+		// Remove scaledJobFinalizer. Once all finalizers have been
+		// removed, the object will be deleted.
+		scaledJob.SetFinalizers(util.Remove(scaledJob.GetFinalizers(), scaledJobFinalizer))
+		if err := r.Client.Update(context.TODO(), scaledJob); err != nil {
+			logger.Error(err, "Failed to update ScaledJob after removing a finalizer", "finalizer", scaledJobFinalizer)
+			return err
+		}
+	}
+
+	logger.Info("Successfully finalized ScaledJob")
+	return nil
+}
+
+// ensureFinalizer check there is finalizer present on the ScaledJob, if not it adds one
+func (r *ScaledJobReconciler) ensureFinalizer(logger logr.Logger, scaledJob *kedav1alpha1.ScaledJob) error {
+	if !util.Contains(scaledJob.GetFinalizers(), scaledJobFinalizer) {
+		logger.Info("Adding Finalizer for the ScaledJob")
+		scaledJob.SetFinalizers(append(scaledJob.GetFinalizers(), scaledJobFinalizer))
+
+		// Update CR
+		err := r.Client.Update(context.TODO(), scaledJob)
+		if err != nil {
+			logger.Error(err, "Failed to update ScaledJob with a finalizer", "finalizer", scaledJobFinalizer)
+			return err
+		}
+	}
+	return nil
+}