Development efforts in relation to forest conservation had primarily focused on building natural capital, with minimal or no equal efforts to combine these natural resources with other assets relevant to sustain or improve livelihoods, especially among the poor. In line with the above logic, this work evaluated the effects of forest protection on forest dependent livelihoods of communities around the Mount Cameroon National Park (MCNP). Eight villages were sampled within the four clusters of the MCNP based on their proximity to the protected area. Data was collected through the use of techniques from the participatory appraisal tool box. This involved a triangulation of; semistructured interviews, focus group discussions and field observation with respondents. Data was coded and analyzed using the tools in statistical package for social science (SPSS) software version 21. Findings revealed that; 15% of the population’s changed their source of livelihood as a result of forest protection, 51% of the population income have been affected by the creation of the park and average income dropped from 84,615 FRS before the creation of the park to 82,508 FRS after the creation of the park. Also, 53% of the population living around the national park still depend on farming as a major source of livelihood. Thus conservation stakeholders should rethink strategies that will improve biodiversity conservation without jeopardising the livelihoods standards of the community.