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— Community based-tourism (CBT) is both an integrated approach and a collaborative tool for socio-economic empowerment of communities through the development and marketing of natural and cultural community resources to add value to the experience of local and foreign visitors and simultaneously improve the level of the community. But there is lack of clear approaches to measure performances of CBTs, thus meaning that how they enhance socio-economic livelihoods of local communities and conserve protected areas is difficult to measure in both quantitative and qualitative terms. This study assessed the performance of Community Based Tourism on the socio-economic lives of local community around Volcanoes National Park, and it specifically 1) profiled and examined the performance of existing CBT ventures, 2) the factors affecting community-based tourism development around Volcanoes National Park and 3) the contribution of CBTs on social and economic lives of the local community. The methods used for data collection were sampling, key informant interviews, surveys, focus group discussions, observation and use of secondary data. Data was analysed using SPSS to generate descriptive information and further strata analysis was used. The study recommends that for Rwanda to achieve its goal of harnessing tourism for its vision 2050 the local communities around Volcanoes National Park should be empowered to embrace community-based tourism as an alternative to farming and fishing to improve their livelihood income.