Resource allocation in climate-smart productive practices depends on the explicit recognition and accountability of the expected costs and benefits in socioeconomic and ecological terms. This study assessed the private and social costs and benefits of 10 practices compatible with the transition to sustainable agricultural practices under an integrated landscape management (ILM) approach. First, the financial and economic viability of the alternatives was evaluated with a cost-benefit analysis. Then, the potential contribution of these practices in terms of carbon sequestration and landscape connectivity was determined in an ILM scenario where at least three practices (live fences, isolated trees in pastures, and riparian vegetation recovery) could be implemented and assessed at the watershed scale. These practices were evaluated in three Mexican pilot watersheds with contrasting biophysical and sociocultural contexts but with high importance in biodiversity conservation and cattle production. The results showed that most climate-smart practices are viable in the medium and long term from a private standpoint. However, more significant benefits are achievable over a shorter period when social co-benefits are included. The results could contribute to decision-making in terms of public policy, providing evidence of the financial and economic feasibility of the analyzed climate-smart practices that also have ecological benefits. In this sense, decision-makers who promote such practices have more arguments to seek funding for implementation.