Despite various interventions to protect forests, many developing countries, including Ethiopia, continue to face substantial forest conservation challenges, particularly where local communities heavily rely on forests for their livelihoods. Recognizing the urgency of this issue, the government of Ethiopia introduced Participatory Forest Management (PFM) and devolved forest management responsibilities to enhance forest conservation. Therefore, this assessment examines the impacts of PFM on forest cover based on an analysis of the Land Use/Land Cover Change (LULCC) over the last 23 years in Adaba-Dodola, and its implications for REDD+ implementation. The study involved determining the LULCC of the Adaba-Dodola forest after the introduction of PFM from 2000 to 2023. Landsat images of 2000, 2012, and 2023 were analyzed to detect LULCC. The study result showed that the Adaba-Dodola forest cover increased by 1.83% since the PFM was introduced. The decreased agricultural land by 0.87% was the main factor attributed to the increase in shrub cover, while shrubland attributed to the rise in forest cover. Net areas of about 148 ha/year of shrublands were converted into forest land owing to significant forest regeneration, while shrublands had a net gain of 110.5 ha/year from agriculture and grasslands between 2000 and 2023. The increase in forest cover is attributed to the effectiveness of PFM in halting deforestation and promoting forest conservation. Thus, the PFM approach is a tool for preserving forest ecosystems and mitigating the adverse effects of deforestation and forest degradation, therefore would be used as an umbrella for implementing REDD+.