Amid growing emphasis on community-based approaches to natural resource management, there are concerns about the lack of women participation in communal decision-making. We analyze the association between participation of women in decision-making of forest user groups in Ethiopia and several forest management outcomes. We combine longitudinal survey, administrative and forest inventory data and find that participation of women in executive committees (i.e., formal decision-making) is associated with greater forest benefits, and an improved (perceived and actual) condition of the forest. Alternatively, the association between women participation in group-level meetings and outcomes is not robust. This implies that women participation in formal decision-making is required to reach forest conservation and livelihood gains.