This study examines the potential of green waqf in Indonesia to advance forest conservation and community livelihoods. It leverages waqf land for reforestation, biodiversity enhancement, and sustainable land management, highlighting the alignment of religious philanthropy with ecological goals. Case studies of the Jantho Waqf Forest and Bogor Waqf Forest illustrate the benefits but also expose challenges such as limited awareness, complex land certification, and underutilized cash waqf. Policy recommendations include clarifying waqf land ownership and usage rights, streamlining the land certification process, integrating waqf into national environmental and development plans, developing innovative financial instruments for green waqf projects, promoting capacity-building initiatives, and launching public awareness campaigns to foster community participation. These actions are essential for achieving Indonesia’s climate and conservation targets.