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The objective of this study is to analyze the benefits and costs of the system of rice intensification in the Morogoro Region, Tanzania. The cost-benefit analysis theory was used in this study. Data were collected by using a questionnaire and checklists after a preliminary survey that aimed at familiarizing the researcher with the study area and pre-test the questionnaire to gauge the relevance of the questions and their comprehensiveness. The study adopted a multistage sampling method. The sample size of 384 farmers was randomly selected. The viability of each production method (SRI and Conventional) was estimated using the Cost-Benefit Analysis. Overall, the results of the comparison of economic viability between SRI and Conventional method projects indicated that the former (SRI) was more profitable and viable than the latter (Conventional Method) at discount rates (Interest rates) equal to or less than 12% respectively. In terms of both NPVs and BCRs interest rates often decrease, making borrowing money less expensive. However, the increase in NPV revealed that the System of Rice Intensification was more profitable than the conventional method of rice production. The sensitivity analyses, of the NPVs for the SRI and Conventional Method projects, respectively, were negative at discount rates of more than 54.17749% and 32.10396%, indicating that the projects were not financially feasible at rates higher than these, but when measured in terms of IRR, SRI outperformed the conventional technique. In general, the empirical findings showed that the System of Rice Intensification produces rice at a higher profit than the conventional method. Therefore, it is important to encourage rice farmers to use the System of Rice Intensification.