Livestock herding is a vital practice in Balochistan, contributing to the economy and culture. The livestock sector is significant in Balochistan, providing 20% of the national stock. Large predators and their prey species, including livestock, have coexisted in these mountainous landscapes for centuries. The aim of the present research is to investigate the impacts of livestock depredation by large predators on livelihoods and predator conservation in two districts of Balochistan, Pakistan. A human–carnivore conflict survey was conducted from July to September 2019, collecting data from 311 residents in a selected study area. Large predators in the study area preyed on a total of 876 livestock during a one-year period, including 560 goats, 292 sheep, 19 cows, and 5 donkeys. The gray wolf is the leading predator, responsible for 66.3% of livestock depredation, followed by the caracal (24.3%), Asiatic jackal (8.9%), and striped hyena (0.6%). The total economic loss was USD 78,694. Overall, 80% of respondents had a negative perception of wolves compared to 24.4% for caracals. Only 20.6% of respondents knew about the importance of conserving carnivores. Livestock depredation by carnivores in the study area created a negative perception of these animals among people. There is a lack of awareness about the importance of conserving carnivore species and their role in the ecosystem. This lack of understanding has ultimately led to detrimental effects on predator populations. It is imperative to raise awareness among people about the ecological significance of carnivores through community meetings, seminars in educational institutions, and providing basic education to herders about effective livestock guarding practices.