Deforestation and poverty in developing countries are critical ongoing issues. Forests provide a broad spectrum of benefits and services to millions of people, and more than $14 billion has been globally spent on the Forestry Official Development Assistance 2000-2019. The purpose of this study was to empirically analyze the effect of forestry ODA on the economic development and forest conservation policies of 87 major recipient countries, using panel data from the OECD DAC CRS, and the World Bank WBI 2003-2018. Herein, fixed effect and random effect models were applied, to 1,392 observed panel data using the R software. Results are as follow. First, results show that the forestry ODA has a positive and statistically significant effect on forest conservation. The higher the forest-dependent country, the greater the positive effect. On the other hand, the forestry ODA does not have a positive effect on the economic development of the recipient country. As the positive effect of the forestry, ODA has been verified; it is necessary to continuously increase international cooperation projects as well as financial support, in line with these international trends. Additionally, results suggest a joint and integrated project with the agriculture as well as forestry sectors because forest areas and farmlands area have a close negative ( ) relationship. Thus, the results provide substantial evidence for supporting as well as establishing, a solid momentum of international cooperation policies in the forest sector.