A vehicular camera system includes a camera module having an imager assembly, a main circuit board and a camera housing. The imager assembly includes (i) an imager disposed on an imager circuit board and (ii) a lens holder having a lens assembly that includes a lens barrel accommodating a lens. The imager assembly includes a flexible ribbon cable that electrically connects to an electrical connector at a multilayered PCB of the main circuit board. The camera housing includes an upper cover and a lower cover and includes a forward portion and a rearward portion. The main circuit board is accommodated within the forward and rearward portions, and the imager is disposed at the rearward portion and is not disposed at the forward portion of the camera housing. The lens holder is attached at the upper cover of the camera housing.