In the wake of climate change and dwindling natural resources, system of rice intensification has been fronted as an approach to improve rice production in several countries. Besides the benefits such as improved rice productivity, reduced water usage that have widely been observed, there is need to quantify the economic benefits of system of rice intensification accrued to farmers, thereby promoting it as an innovation to improve livelihoods of rice farmers. This aim of this paper is to quantify the economic benefits of undertaking SRI among smallholder rice farmers. We introduced SRI among smallholder farmers in a rural setting in western Kenya, Oluch irrigation scheme, through an innovation platform approach. Over the period of four years (2016–2019), we quantify the benefits accrued to the uptake of the technology among adopters of the technology. Our comparisons are in reference to a baseline study conducted prior to the full-scale promotion of SRI in the study area. Our study findings reveal that the uptake of specific SRI practices increased by at least 30–80%, and acreage under rice farming increased by 50%. Besides, SRI required more production costs per acre (63% increase), although SRI had at least 28.6% higher return per shilling invested. Our findings underscore previous results in the literature that SRI is associated with not only productivity but also economic benefits justifying the need for scaling especially among smallholder farmers. Nonetheless, efficient approaches to scaling such promising technologies are necessary to enhance productivity and subsequently improve livelihoods.