Homegardens are one of the most diverse agroforestry systems and make a vital contribution to meeting various household needs, especially for smallholder farmers in developing countries. The aim of this study was to record the diversity and use of homegarden plant species in the Goba District. The households were randomly selected from five kebeles, with the number selected proportionate to the size of each kebele using the probability proportional to size (PPS) calculation. Seventy-one homegarden owners were chosen for the detailed study and data collection. Of the fifteen kebeles in the Goba District, five kebeles were chosen at random. Observations, semi-structured interviews, preference rating, direct matrix rankings, and paired comparisons were the methods used to gather ethno-botanical data. Descriptive statistical approaches, including density, frequency, relative frequency, relative density, and the Shannon and Wiener indices for species diversity were used to analyze the data. A total of 67 plant species belonging to 31 families were identified. Of the 67 plant species, 36 (or 54%) were herbs, 15 (or 22%) were tree species, 22% shrubs, and 2% were climbers. Twenty-eight (20.8%) species collected from homegardens had food and forage value, 17 (25.3%) had fence value, 12 (18%) had shade value, and 23 (34.3%) had medicinal value; moreover, 90% of the homes had home gardens, indicating that farmers value gardening plants that helps improve household food security and revenue generation. The involvement of the local population and government institutions in providing awareness through instruction or training on the sustainable use and management of plant resources is vital to conserve homegarden plants.