There is a consensus that fire should be actively managed in tropical savannas to decrease wildfire risks, firefighting costs, and social conflicts as well as to promote ecosystem conservation. Selection and participatory monitoring of the effects of fire on cultural keystone species may be an efficient way to involve local stakeholders and inform management decisions. In this study, we investigated the effects of different fire regimes on a cultural keystone species in Central Brazil. With the support of diverse multiethnic groups of local fire brigades, we sampled Hancornia speciosa (Apocynaceae) populations across a vast regional range of 18 traditional territories (Indigenous Lands and Quilombola Territories) as well as four restricted Protected Areas. We considered areas under wildfires (WF), prescribed burns (PB) and fire exclusion (FE) and quantified tree mortality, canopy damage, loss of reproductive structures and fruit production following a simplified field protocol. Areas with H. speciosa populations were identified and classified according to their fire history, and in each sampled area, adult plants were evaluated. We hypothesized that WF would have larger negative impact on the population parameters measured, while FE would increase plant survival and fruit production. We found that tree mortality, canopy damage, and loss of reproductive structures were higher in areas affected by wildfires, which also had the lowest fruit production per plant compared to PB and FE areas, corroborating our hypotheses. However, we also found higher mortality in FE areas compared to PB ones, probably due to plant diseases in areas with longer FE. Considering these results and that the attempts to exclude fire from fire-prone ecosystems commonly lead to periodic wildfires, we argue that the Integrated Fire Management program in course in federal Protected Areas in Brazil—based on early dry season prescribed fires—is a good management option for this, and likely other, cultural keystone species in the Brazilian savanna.