<p>The rapid loss of biodiversity due to anthropogenic activities underscores the need to understand the factors responsible for biodiversity loss and explore innovative mechanisms to address this problem. Part of the problem is the inadequate financial resources for the implementation and management of biodiversity conservation plans. To this end, the present study analyzes tourists’ preferences and willingness to pay (WTP) for wildlife conservation in India’s oldest national park, Jim Corbett Tiger Reserve. The primary data from a random sample of 273 tourists was collected and analyzed using different econometric methods of choice experiment modeling, namely, conditional logit and mixed logit models. The study finds that tourists prefer and exhibit statistically significant and positive WTP of ₹12.767/time/tourist for reducing crowding to 20–25 vehicles, ₹57.552/time/tourist for awareness programs, ₹61.491/time/tourist and ₹143.469/time/tourist for increasing management staff to 307 employees and 461 employees, respectively, while revealing negative WTP of ₹48.333/time/tourist for allowing human settlements. The study offers implications for restructuring tourists’ entry fees.</p>