In this paper, drivers for population loss, reasons for conservation, and possible approaches toward sustainable conservation of the endangered populations of the African wild dog (Lycaon pictus) are reviewed. L. pictus populations face several threats, including habitat loss and degradation, persecution by human beings, infectious diseases, and competition with other large carnivores. L. pictus is among the top predators in the wild, which is key in limiting the herbivores' population from exceeding the ecosystem's carrying capacity. This, in turn, indirectly shapes rangeland vegetation communities and structures. L. pictus attracts tourists to Africa bringing foreign income which can be used for conservation and improving the livelihoods of the rural poor. L. pictus can be an important source of genetic materials for breeding programs to improve human and animal welfare. Given the importance of L. pictus to people and ecosystems' integrity, several measures for its sustainable conservation are suggested in this paper. These include controlling further habitat fragmentations, persecution by human beings, infectious diseases, poaching (prey losses), and inbreeding of the remaining small populations. Conservation of L. pictus needs a holistic approach in which the local people, conservation agencies, decision makers, researchers, and other key stakeholders should work harmoniously to prevent its extinction.