Developing nature-based village tourism is an important strategy for improving community welfare and the local economy. The natural tourism potential of Mloko Jajar in Pupus Village, Ponorogo Regency, can be optimally developed through a collaborative and sustainable approach to improve community welfare and the local economy. This study analyzes Mloko Jajar tourism development through a collaborative governance approach, highlighting the roles and relationships between the involved actors. This research was conducted qualitatively and descriptively through in-depth interviews, observation, and documentation studies. The results indicate that tourism development can proceed successfully thanks to the synergy between the village government as a policy facilitator, the Sumber Makmur Village-Owned Enterprise (BUMDes) as the business manager, the Nirmala Senja Tourism Group (Pokdarwis) as the technical implementer, and the community as the owner of social capital. The results reveal that this collaborative model has resulted in structured governance, increased community participation, local economic diversification, and village achievements in the 2025 Dewi Cemara Festival. The implementation of collaborative governance has proven effective in creating sustainable tourism management, strengthening the local economy, and increasing village institutional capacity.