Smallholder pig farming is an important livelihood source in many rural communities of countries in Asia region such as Vietnam and Sri Lanka. The indigenous pig population is diminishing over the years and it requires a better attention for conservation and sustainable utilization. The objectives of this study were to identify the pig farming system characteristics and investigate the effect of these characteristics on keeping pigs for livelihood in Vietnam and Sri Lanka. A total of 725 households were surveyed including 264 keeping pigs and 461 without pigs. Farming system characteristics were analyzed by descriptive statistics. The effect of farming system characteristics on keeping pigs for livelihood was determined by logistic regression models (Models I and II). The results revealed that majority of famers (>80) kept indigenous pigs as an income source in both countries. Free range pig rearing system with low cost feeding (mainly the kitchen waste) was predominant in Sri Lanka whereas confined pigs and providing commercial concentrates was mainly practiced in Vietnam. The average herd size was significantly (p<0.05) different in Vietnam (8) and in Sri Lanka (4). Age at first farrowing, farrowing intervals and number of piglets per farrow were higher in Vietnam than in Sri Lanka. The results of model-I showed that family size, availability of piped water, keeping other livestock than pigs, watering pigs adlibitum, positively influenced keeping pigs for home consumption, whereas feeding kitchen waste, availability of water connection in working condition and livestock income negatively influenced for the same attribute. The results of model-II revealed that availability of river water and livestock income have positive impacts while availability of piped water and watering pigs adlibitum have negative impacts on keeping pigs as a income source. These findings will be useful in formulating policies to conserve the gene pool of indigenous pigs and facilitate the indigenous pig production. Increasing indigenous pig production will contribute in considerable level to ensure the food security and income generation of rural families.