<p>Climate change poses a significant threat to the income of rice farmers, leading them to implement various adaptation strategies. Despite the widespread promotion of climate-risk management (CRM) in rice production systems, empirical evidence of their effects on income remains uncertain, largely because observational studies seldom correct for selection bias. This study investigates the effects of CRM strategies on the income of rice farmers in Thailand, using household survey data and econometric techniques that mitigate confounding from non-random adoption. The data were collected through a survey with randomly selected 402 rice farmers in six districts of Chaiyaphum province using a pre-tested structured questionnaire. The inverse-probability weighting technique was employed to assess the effect of CRM strategies on farmers’ income by minimizing the selection bias. The descriptive analysis revealed that climate change was perceived as adversely affecting crop production, leading them to adopt various CRM strategies to alleviate these effects. Education, farming experience, training experience, rice cultivated area, and less access to credit were found to be pivotal factors influencing the adoption of CRM strategies. Importantly, the adoption of CRM strategies exhibited positive average effects on the adopters’ incomes with the effect size being THB 44,000 (USD 1257) per farm per annum. Consequently, this study advocates for policymakers to focus on the identified determinants of the adoption of CRM strategies, which has the potential to ultimately boost farmers’ income and overall livelihoods in the climate-vulnerable areas.</p>