Major socio-economic changes over the last few decades have reduced Indigenous peoples’ engagement in cultural practices, such as harvesting of forest resources. Nevertheless, some species remain important for culture, subsistence and livelihood, such as the chiuri tree (Diploknema butyracea (Roxb.) H. J. Lam) to the Chepang people of Central Nepal. Using the cultural keystone species framework, we conducted interviews within Chepang communities to assess the biocultural importance of the chiuri tree. It is central to the Chepang culture, and no other species could provide the same benefits. It also provides food and habitat for a number of wildlife species, including bats, which are themselves culturally important. Strictly observed tree ownership rules, as well as a cultural ban on tree cutting and branch lopping, have so far contributed to chiuri conservation. However, these rules are increasingly less adhered to. Other threats to chiuri sustainability are excessive flower foraging by bees (reducing pollen production) and bat hunting (reducing pollen transport). Further studies are needed to quantify these threats and to adjust forest and wildlife management practices so that the cultural landscape continues to provide multiple benefits to the Chepang people. Our study of the chiuri case attests to the usefulness of the cultural keystone species framework in landscape assessment for management and conservation.