This article outlines the ethnobotanical and economic importance of the monkey-puzzle tree (Araucaria araucana,), a long-lived conifer endemic to the temperate forests of Chile and Argentina. It also assesses the connection between indigenous resource rights and environmental conservation by examining the history of the tree’s use in Ralco Lepoy, an indigenous community of 800 inhabitants located in the Andes of southern Chile. Primary data were collected through interviews and field observations. Secondary data were collected through archival research in national and provincial capitals. Self-determination and territorial rights are important factors in the indigenous interest in and commitment to the conservation of the monkey-puzzle tree. A complementary approach to indigenous land rights and environmental protection may be an appropriate strategy to decentralize conservation efforts and ensure local participation in developing sustainable resource management plans.