The study was aimed to assess, in monetary units the services gained from the mangrove ecosystem of Uttara Kannada district of Karnataka, India and to analyse the people's perception about the importance of mangroves besides their willingness to pay (WTP) for its conservation. Study was conducted with double-bounded dichotomous approach and poll questions were asked to the respondents. A binary logistic regression model was applied to analyse the Willingness to Pay of the respondents to develop and maintain the mangroves. Respondents of the areas were less aware about the ecosystem services such as carbon sequestration which are not directly influencing them. They are highly dependent on the mangrove resources and gaining several benefit which are significant in monetary units. Among the respondents, inland fishers are willing to pay more for mangrove development and maintenance compared to marine fishermen and Gazni farmers. The WTP is further influenced by the socioeconomic parameters such as age, income level, educational status etc. Development and management of mangrove ecosystem could lead to increased ecosystem services, which in term will be implicated on the overall improvement of the socioeconomic standards of the dependent communities.