Illegal wildlife trade (IWT) in Nepal, like many parts in the globe, possesses significant threat to many endangered species. IWT is possessing significant threat to conservation challenge in Nepal due to its proximity to major consumer markets in China and India serving as both source and transit. This research focuses on the illegal wildlife trade and complex dynamics of human associated behind such activities prevailing around Annapurna Conservation Area (ACA) of Nepal. Study was carried by mixed method using both qualitative and quantitative methods. Qualitative analysis was performed based on summative content analysis and in-depth interviews with conservation experts and individuals convicted for illegal trading. Quantitative analysis was performed based on the data obtained from official record of ACA and published reports from national agencies in relevant field. Among all the seized items wild fauna Muntiacus vaginalis was largely traded in Annapurna region which accounted for 40%. Rare species such as Moschus chrysogaster, Panthera uncia, Naemorhedus goral, Hemitragus jemlahicus and Lophophorus impejanus which come under CITES Appendix I were also seized in significant amounts. Among seized flora, rare species found were Paris polyphylla, Ophiocordyceps sinensis, Dactylorhiza hatagirea. The study identified five major themes: traded species; major trade routes; motivating factors; coordination and cooperation between the stakeholders; and law enforcement challenges of illegal wildlife trade. Study found that significant percentage of vulnerable and endangered species were illegally traded in Annapurna Conservation Area. The finding emphasized the importance of development of collaborative initiative with local communities and also showed the immediate need of enhancing the understanding of relevant stakeholders regarding legal, social, economic, and environmental impacts of the illegal trade in Annapurna region.