The present study aims to document detail information of some of the selected wild edible having enormous potential for livelihood enhancement and socio-economic development by making a variety of value added products. To this end, some of the wild edibles of central Himalaya were selected and prioritized for harnessing their economic potential along with their detail information in terms of distribution, ethnobiology, phenophases and appropriate time of harvesting so as to make communities well aware about the resource availability and their harvesting period round the year. The cost-benefit analysis of each value added product prepared from selected wild edibles was worked out in detail and these analyses revealed that total monetary output, as well as the net return, is very high for all value added products prepared. Since wild edible fruits or other edible parts can be collected from wild free of cost except labour is involved in collection of these wild edibles bio-resources. In addition, information on a participatory action research framework & approaches for promoting participatory conservation of these wild edible species were also highlighted for appropriate management of these resources. The present attempt provides a practical example of sustainable utilization of wild edibles, their potential in livelihood improvement of local people, distribution and phenophases and availability in natural conditions, participatory conservation of these wild edibles may help policy planners at the regional and national levels to link livelihood/socio-economic development with conservation.