Homegarden agroforestry, mono-cropping, and Eucalyptus woodlots are common farming practices in northwestern Amhara region, Ethiopia. However, the financial profitability of these farming practices is not well known. Therefore, this study is conducted to assess the financial profitability of homegarden agroforestry, mono-cropping, and Eucalyptus woodlots in Dangila district, northwestern Amhara region, Ethiopia. A mixed research methods approach was applied to gather both quantitative and qualitative data. Multi-stage sampling technique was employed to select the study area, Kebeles, and sample households. A total sample size of 332 households was selected using a simple random sampling technique. Primary data were collected from household surveys; focus group discussions (FGDs), and key informant interviews (KII). Data were analyzed using descriptive statistics and multinomial logistic regression. The findings revealed that all those farming systems show positive values for all financial indicators. Comparatively, the eucalyptus woodlot is found to be a more profitable farming system with an Equal Annual Equivalent value (EAE) of 655,130.64 ETB which is 1.7 times higher than homegarden agroforestry and three times higher than monocropping. Monocropping is more sensitive to output price while eucalyptus woodlot is more sensitive to interest rate. The average annual income of households is 57,793 ETB of which the main farming practices that include homegarden agroforestry, mono-cropping, and Eucalyptus woodlots contribute 13,656.33 ETB (23.6%), 21,976.08 ETB (38.7%), 18,093.51.66 ETB (31.3%), respectively and non-farm income contributes 4,067.22 ETB (7%). The logistic regression analysis revealed that distance to the market, educational status, and age of household positively and significantly influenced the choice of households to practice homegarden agroforestry, mono-cropping, and eucalyptus woodlot farming system. However, the number of livestock, input price, pests and diseases, and family size negatively influenced the choice of household to these practices. It is concluded that monocropping, closely followed by Eucalyptus woodlots, is the main contributor to household income. In terms of financial attractiveness, eucalyptus woodlots are more profitable than the other land-use systems in the study area. This study suggests that the agricultural sector should create awareness to enhance the profitability of farming practices; create market linkage access, develop infrastructure and distribute inputs timely to farmers.