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Statements concerning rangeland degradation and restoration issues are often supported by technically oriented evaluations, with limited consideration of the economic implications of resource conservation or rehabilitation. In the few cases where an attempt has been made to incorporate economic elements into analyses, some shortcomings have been evident in the methodology adopted. This has sometimes produced misleading results, and has made comparisons of different restoration technologies difficult. This paper examines several issues that are important in obtaining an economic perspective on the restoration of degraded rangelands. The formal procedure of benefit-cost analysis is presented as a rational framework for the economic evaluation of such activities. The framework is applied, via a case study approach, to examine the private economic value of several technologies for rangeland restoration. However, because the analysis is based on limited data, the conclusion is indicative rather than definitive. Issues relevant to the extension of the analysis to encompass social evaluations of rangeland restoration management are canvassed.