The aim of the study was to analyse economic costs and benefits of stakeholder-defined adaptation scenarios for the Šumava National Park, the Czech Republic, and to evaluate their impact on the provision of ecosystem services, primarily focusing on ecosystem-based adaptation options which support disaster risk reduction in a broader region. The study utilised an array of approaches, including participatory scenario building, GIS modelling and economic evaluation. Based on a participatory input by local stakeholders, four adaptation scenarios were created, formulating various possibilities of future development in the area as well as potential vulnerabilities and adaptation needs. The scenarios subsequently served as the basis for biophysical modelling of the impacts of adaptation and disaster risk reduction measures on the provision of ecosystem services with the InVEST modelling suite, focusing on climate regulation, water quality and hydropower production. Finally, a cost-benefit analysis was conducted, quantifying management and investment costs of each adaptation scenario, and benefits originating from the provision of previously modelled regulating ecosystem services, together with a supplementary selection of provisioning services. This study serves as an example of combining stakeholder views, biophysical modelling and economic valuation in the cost-benefit analysis of ecosystem-based adaptation and disaster risk reduction, which provides the opportunity to find shared solutions for the adaptation of social-ecological systems to global change.