This study explores the linkages among protected areas, tourism and community livelihoods in a rural setting. The Chobe National Park and Chobe Enclave Community Trust, Botswana, provide the context for this study. Data were collected through a community asset mapping exercise, semi-structured interviews, and published and unpublished data sources. Data were analyzed and interpreted using the community capital framework (CCF) that provided a comprehensive approach. The study identified that protected areas, tourism and community livelihoods linkages have many inter-dependent community capitals relationships. The enhancement of community capitals was facilitated by a shift from government-controlled to multi-level governance arrangements that recognize community wildlife-based tourism potential co-exist with protected areas, have influence on community livelihoods and nurture positive linkages. Results also indicate that linkages are dependent on community capitals transformation or lack thereof; the linkages have an influential effect on the whole ecosystem on which protected areas, tourism and community livelihoods operate. The study provides a new methodological approach in understanding the changing relationships among tourism, conservation and community development by expanding community capitals framework. This study's findings also inform planners, managers, and policy makers to critically evaluate the processes of change and devise interventions accordingly.