Carnivore conservation is considered essential because the species offer significant benefits to biodiversity. However, their predation on ungulates reduces ungulate populations with subsequent effects on hunters’ harvests and welfare. In this paper, we use the hedonic price method to estimate the effects of large carnivores on hunting lease prices. We divide the impact of carnivores into two effects: one effect affects game harvests, and the other effect affects the hunters’ direct preferences for the presence of carnivores on hunting land. Results reveal that lynx impose a significant economic cost to owners of hunting rights due to the predation of game. On average, the implicit cost of an additional lynx family is SEK 1.51 million (EUR 0.162 million) per year, and with 95% certainty, the cost per lynx family is at least SEK 340 thousand (EUR 36.6 thousand) per year.