New policies and interventions for forest management are important because preferences of stakeholders and the state of forests continually change. To achieve sustainable forest management there is the need for information and guidelines that help decision-makers understand the economic value of the forests to local communities as these values influence how they respond and support policies and interventions. This study, using the contingent valuation method, estimated the willingness to pay of 300 respondents from 10 communities around Subri Forest Reserve in the Western Region of Ghana.