This research explores the complex interplay between social and economic issues and how they affect Ethiopia's declining biodiversity. Even though there needs to be more theoretical arguments connecting these variables to the decline in biodiversity, there still needs to be more empirical data. The primary causes of the reduction in ecological diversity in this region are events caused by humans, such as habitat destruction, the introduction of introduced organisms, the overuse of natural resources, and the increasing popularity of monoculture in agriculture. This study highlights the need for further research in this area. It evaluates critically how well-existing biodiversity conservation plans are working to protect ecosystems, species, and cultural values from these prevailing challenges. The study comprehensively analyses the socioeconomic factors contributing to Ethiopia's declining biodiversity, including viable approaches, challenges, and future directions for successful intervention. It analyses previous estimates and focuses primarily on theoretical viewpoints. Through the support of workable conservation strategies, community-based management, and sector-specific conservation integration across the resource region, the research promotes the improvement of biodiversity conservation.