Natural springs are the main water source for more than 100 million people living in the Hindu Kush Himalaya. In Nepal, 10 million people in the mid-hills and mountains depend on them. These sources are under stress due to factors such as climate change, infrastructural development, and socioeconomic changes. To combat this trend, spring revival activities have been carried out across the Hindu Kush Himalaya in the last few years. Considering 2 study sites in Nepal, this work attempts the first benefit–cost analysis for spring revival in rural settings. First, using literature and community consultations, a cause–effect map was drafted. Second, the benefits and costs were estimated quantitatively using 4 scenarios: 2 based on the study sites and 2 on more generic situations. Positive (.1) benefit–cost ratios were found in 3 scenarios, showing that spring revival has potential but local conditions (households served, presence of other water sources, usage) are important factors to be considered.