<p>Natural regeneration of tropical forests following deforestation and land degradation offers scalable and cost-effective opportunities for recovery of forest structure, return of native species and delivery of ecosystem services, but requires suitable biophysical and socioeconomic conditions. In this Review, we assess the global extent and distribution of regenerating moist and dry tropical forests and review their contributions to nature and people. Local and landscape factors (such as the extent and type of agriculture and forests in surrounding areas) influence whether forest regeneration occurs and to what extent forest properties can recover. Advances in detection, monitoring and prediction of natural regeneration potential inform how to scale-up cost-effective restoration programmes and to create policies that promote forest recovery. We frame forest regeneration as a complex socioecological system and encourage transdisciplinary research agendas that focus on how to promote broad social, cultural, economic and environmental benefits offered by effective management and protection of regenerating tropical forests. Key steps to harness the local and regional potential for natural regeneration are to integrate forest regeneration with management, conservation and productive activities that benefit local communities, support livelihoods and provide attractive returns on investments.</p>