Coconut based farming system (CBFS) is a major research and development program of the Philippine Coconut Authority, Department of Agriculture and other state universities like the University of the Philippines at Los Banos, Visayas State College of Agriculture, University of Southern Mindanao, the Farming Systems and Soil Resources Institute and other government and non-governmental organizations. Technologies on CBFS were field tested, piloted and disseminated in various coconut development programs in the last three decades to increase productivity and income of coconut farmers. In view of the fluctuating prices of copra and coconut oil, CBFS provides an alternative source of ready income to the coconut farmers. This paper reviews the rationale and the advantages of CBFS, particularly on the socio-economic, agronomic and ecological benefits that the system provides. Research findings on the .s uitability and profitability of vanous annual and perennial intercrops as well as livestock integration in coconut farms are presented. Coconut farmers adoption of the technologies on CBFS through the implementation of various coconut industry development programs are discussed. The relevant issues and other factors affecting the adoption of CBFS technologies in the Philippines are likewise discussed.