Protected areas have long been the mainstay of humanity's attempts to conserve areas deemed to be of natural, cultural, or ecological importance. However, it is unlikely that protected areas alone will stem the tide of biodiversity loss. In the past few decades approaches to conservation have increased in number, scope, and complexity. This article reviews current conservation approaches based on a framework depicting the evolution of conservation approaches from strict protected areas through to areas where management focuses exclusively on maximizing extractive and productive uses. The framework allows the reader to explore current approaches to biodiversity conservation and the incentives and instruments currently in use to better understand developments, challenges, and opportunities. Keywords: Agricultural practices, Biodiversity stewardship, Conservancy, Conservation contracts, Ecosystem services, Ecotourism, Incentives, Multifunctional landscapes, Nature reserves, Off-reserve, Wildlife.