This paper systematically identifies the constructs and indicators to measure Sri Lankan rice farmers’ Sustainable Agriculture potential (SAP) in the regions of Mahaweli Block H in Anuradhapura district, a dominant rice cultivation district in the country. Insights from Rural Livelihood Assessment Framework helped identify the primary constructs of SAP: The constructs of farmers’ SAP are derived as Human, Social, Financial, Physical, and Natural capitals. The principles of Sustainable Agriculture discussed in modern literature and the various research studies carried out in this domain are insightful to derive an exhaustive list of indicators that might adequately explain the constructs of SAP. The researcher adopted a quantitative descriptive approach, developed a comprehensive set of indicators (130), pre-tested them, and conducted a pilot survey with 64 samples. The measurement model analysis techniques in PLS-SEM helped shorten the Questionnaire with the most productive questions (87). This short-listed Questionnaire was again surveyed in a larger sample space, 386, to attest to their validity further. The study found five constructs and 87 productive questions that can explain farmers’ SAP, and the researcher believes that these compositions of SAP and the indicators will be helpful for future researchers.