This study evaluated the long-term implications of a Public-Private Partnership (PPP) on livelihoods and natural resource (NR) dynamics under a market-oriented approach to conservation. Drawing examples from the Luangwa Valley in eastern Zambia, the study sought to answer questions on two closely interrelated aspects. These included the contribution of PPP to sustainable livelihoods in and around Protected Areas (PAs) and its impacts on natural resources in Game Management Areas (GMAs). Quantitative data were collected from PPP participating and non-PPP households using standardized structured interviews, while qualitative data were obtained from three chiefdoms using semi-structured interviews and focus group discussions. Taking the case of Community Markets for Conservation (COMACO) in eastern Zambia, results of this study showed that PPP contributed to sustainable livelihoods and overall natural resources management through varied ways. These include promotion of conservation farming, agroforestry, poacher transformation (individuals who have given up poaching due to PPP interventions) and provision of markets for the produce of participating households. Further, impacts of PPP on soil fertility, crop, and honey yields were statistically significant (p ? 0.05). A combination of increased crop productivity and household incomes has seen a 40-fold increase in poacher transformation. The results of this study suggest that PPPs, if well-structured, have the potential to address both livelihoods and enterprise needs with an ultimate benefit of promoting both sustainable livelihoods and natural resources management around PAs in tropical Africa.