This survey research was conducted to study on the utilization and economic value assessment of forest yields from the seasonal flooded forest (Pa Bung-Pa Tham, PBPT) in lower wetland area of Mun river in Srisaket and Ubon Ratchathani provinces, Northeast Thailand. The 4 target villages were located in PBPT and they were selected by simple random sampling with 30% of the households in each village and the samples of this research were 180 households. The results were found that the studied households in village 1 -4 had the utilization of PBPT as 95.6, 94.3, 100 and 98.2%, respectively and the number of the members of the households who utilized PBPT were averaged as 2.18, 2.47, 2.07 and 1.99 persons, respectively. And the studied households of 4 villages had utilization of PBPT for food sources, medicinal herb sources and income sources of the households, respectively. The important collected yields from PBPT of 4 studied villages were mushrooms, bamboo shoots, yams, wild native fruits, small animals, local native vegetables and fire woods and woods for making charcoals with the economic value assessment of forest yields in village 1-4 were 10,982.22; 11,563.29; 22,610 and 13,489.81 Baht/household/year, respectively. © Medwell Journals, 2012.