Agrobiodiversity conservation is vital for food security, maintaining ecological balance, and preserving socio-cultural norms. There is substantial evidence to support that agrobiodiversity hotspots coincide with localized, small-scale peasant food systems. Preserving such food systems is necessary for protecting agrobiodiversity. The current legal framework over agrobiodiversity is fragmented and inadequate. A major portion of this framework is situated within intellectual property law and farmers’ rights law, neither of which are designed to foster sustainable management of agrobiodiversity. In this context, the 2018 Peasants’ Rights Declaration has the potential to fill the gaps in the existing framework. The paper critically analyses the Declaration by exploring some of its legal innovations in improving agrobiodiversity conservation. While some of these innovations are commendable, they are unlikely to be adopted by states owing to their radical nature. Their adoption would require a massive overhaul of the existing agricultural model and power structures embedded within it.