This research paper has been published in order to analyze the linkages between biodiversity conservation and rural livelihoods improvement in the buffer zone of protected area. Biodiversity conservation has become the powerful tool for reducing the poverty or means of livelihoods in many countries all over the world. In this research, five different livelihood assets like natural, physical, social, human and financial capitals were carefully analyzed. Biodiversity conservation is actually an entry point to open up tremendous opportunities for improving the livelihoods. Biodiversity information centre, tourism promotion, domestication/cultivation of medicinal plants and botanical garden had been clearly seen as a livelihood improvement. Index of Perceived Availability (IPA), Index of Relative Ranking (IRR) and Chi-square (X2) text were analyzed in order to analyze the people perception towards biodiversity conservation . Hence, this publication will be very much useful to those who are planning to manage biodiversity, conduct similar country based research or acquire the knowledge on community based biodiversity and rural livelihoods improvement.