The Philippines is a megabiodiversity country, but it is also often seen as a country of ecological ruin whose biodiversity is on the verge of collapse. Decades of environmental neglect have pushed ecosystems to their limit, often with deadly repercussions for the human population. Is conservation in the Philippines a lost cause? We review current conservation efforts in the Philippines, considering the actions of academics, field researchers, local communities, nongovernmental organizations, the government, and other sectors of society. Remarkably, however precarious the present situation may seem, there have been some recent positive gains and signs of hope. Although there is no room for complacency, we conclude that the diversity of available indicators suggests that conservation in the Philippines, against many odds, shows signs of success, and thus deserves greater attention and increased investment.