The aim of this paper to establish the existence and uniqueness of coincidence and common fixed points of Nadler type set-valued mappings under various generalized contractive conditions in the context of ultrametric spaces. Illustrative examples are provided to support our results. As an application, we have obtained well-posedness of the common fixed point problems. The presented results generalize several existing results in the literature in ultrametric space setting. © 2017, African Mathematical Union and Springer-Verlag Berlin Heidelberg.