Abstract Expansion of planted forests and intensification of their management has raised concerns among forest managers and the public over the implications of these trends for sustainable production and conservation of forest biological diversity. We review the current state of knowledge on the impacts of plantation forestry on genetic and species diversity at different spatial scales and discuss the economic and ecological implications of biodiversity management within plantation stands and landscapes. Managing plantations to produce goods such as timber while also enhancing ecological services such as biodiversity involves tradeoffs, which can be made only with a clear understanding of the ecological context of plantations in the broader landscape and agreement among stakeholders on the desired balance of goods and ecological services from plantations.