Wof‐Washa forest is one of the very few remaining natural forests in Ethiopia. It is the only stretch of forest left in the surrounding. The main reason for its survival is its inaccessibility. The local people use the forest as a source of fuelwood, construction material, farm implements, edible fruits, honey, medicinal plants, water and game for hunting. As one of the major activities of the local people is livestock production, it provides grazing areas. Since the forest has not been commercially exploited, it is a potential source of merchantable forest products. It also provides food, shelter and breeding areas for many wild animals. The forest prevents soil erosion and regulates the watershed in the surrounding. However, the threat to its destruction is becoming apparent because of encroaching agriculture, cutting of trees by the local people, fire and overgrazing. Studies on the floristic composition of the forest were made in 1992 to lay the foundation on which recommendations for future conservation of biodiversity and development of the forest can be made. The studies revealed that there are over 252 species of plants: 33 (13%) trees, 18 (7%) shrubs and 201 (80%) herbs. Among these, 29 species (12%) are endemic to Ethiopia while 7 (3%) are nearly endemic. The floristic composition of the forest is compared with other forests both inside and outside Ethiopia. The most similar forests analysed have only about 54% species in common with Wof‐Washa forest. The forest is endowed with a remarkable number of common, rare and endemic plant species and wild animals. Many of the species are habitat specific and can only be found in limited areas in the forest. Their survival depends upon the existence of the forest. Any kind of man‐made disturbance which does not take into account this reality is very likely to destroy the specific habitats of the species and to upset the natural processes which will in turn result in local extinction of both plant and animal species. Moreover, it will reduce the amount of available water in the lowlands and accelerate soil erosion on the highlands. Based on the results of the present study. it is recommended that the forest be converted into a National Nature Reserve.