Sungai Wain Protected Forest is one of the conservation areas in Balikpapan City which has an essential role in supporting the life of the city’s people.Currently, its existence is threatened due to the various activities and overlapping interests of stakeholders involved in managing the forest. Therefore, forest management that is supported by these stakeholders is urgently needed. This study aimed to identify the stakeholders involved and explain their influences, interests,and roles in Sungai Wain Protected Forest management.Data were collected through observation, interviews, and questionnaires. The respondents were selected using the purposive sampling method, and stakeholder mapping was used to analyze it. The results showed that the stakeholders classified as key players include the Balikpapan Protected Forest Management Unit (KPHL Balikpapan), the East Kalimantan Provincial Forestry Office, Pertamina UP V Balikpapan, and the NGO Foundation Pro Natura.Multi-stakeholder management could be an alternative model for managing the Sungai Wain Protected Forest to synchronize stakeholders’ interests. The KPHL Balikpapan could actas a leading playerand become a driving force in the Sungai Wain Protected Forest’s management efforts due to their appropriate main duties and functions. Hence, the coordination, communication, and cooperation between stakeholders could be well-formed to achieve the management objectives.Keywords: forest management, multi-stakeholder management, stakeholders, Sungai Wain Protected Forest