<p>Enset is a significant source of food and a multipurpose crop that is consumed by about 25 million people as a staple or co-staple food crop, mainly in the central, south, and southwest parts of Ethiopia. It grows in different regions of Ethiopia, with a wide range of altitudes and agro-climatic zones. However, limited studies are available on the role of local farmers in the farming system, traditional practices, management, and conservation approaches. Hence, this paper aims to assess the farmers’ Indigenous knowledge of enset, covering the local identification system in tandem with the assessments of management approaches to conserve its genetic resources for the sustainable uses of the enset crop for food security and nutritional value. Available literatures have been gathered and reviewed. Farmers have time-honored experiences and practices in cultivation, use, and conservation of a variety of enset landraces to satisfy their needs on the domestic and market fronts in each enset growing region. To distinguish one enset landrace from others, farmers provide local names based on the morphological traits, place of origin, agronomic features, and quality attributes of their products, which also indicate their uniqueness. To sustainably utilize and maintain enset genetic resources, farmers require support from various stakeholders in crop improvement programmes and conservation strategies, which enhances Ethiopia’s sustained food security.</p>