Benefit-sharing mechanisms have been instrumental in securing the support of local communities living on the edge of protected areas, and in resolving human-wildlife conflicts. Understanding how current conservation policies influence benefit-sharing and the management of human-wildlife conflicts is vital for designing strong mechanisms to achieve both conservation and ethical community outcomes. Here we examined how benefit-sharing and human-wildlife conflicts are acknowledged and addressed within the current conservation policies (wildlife policies, legislations, regulations and strategic plans) using the Greater Serengeti Ecosystem (GSE) as a case study. The fourteen policies focusing primarily on wildlife conservation in Tanzania are analysed. We also drew on the findings of three studies conducted during 2021 and 2022 documenting community interactions with wildlife and adjacent protected areas. These studies covered the types of benefit provided by various conservation institutions to local communities, the effectiveness of benefit-sharing mechanisms, and the conservation-related losses incurred by communities. The study uncovered a wide range of benefits provided to local communities in the form of social amenities, livelihood support and employment. However, the losses and costs experienced are far greater than these benefits. Integrating these findings with policy analysis, we identified that the main limitations reducing the impacts of benefits in motivating positive conservation behaviours to be: losses of livestock and crops were more than four times the value of benefits/compensation offered to communities; a lack of details and clarity of benefit-sharing mechanisms; benefit/conservation rates that have not been indexed against inflation and; shortcomings in implementation. To achieve conservation outcomes, we recommend revising the conservation policies and legislation across the country in collaboration with local communities who experience the impacts of conservation in their day-to-day life. We also propose a coordinated approach for all conservation institutions managing wildlife to address widespread human-wildlife conflicts across the country effectively and to achieve better conservation outcomes rather than leaving that task to a single organization (i.e. Tanzania Wildlife Management Authority).