Elinor Ostrom challenges the view that states and markets alone have the potential to successfully regulate policymaking processes regarding long term sustainability of natural resources, promoting self-governing institution and communities in governing commons. Forestry management is concerned with administrative, social, environmental and economic aspects on forests and forestry resources, which in particular climates require adaptive measures accordingly with local environmental conditions. In Australia the fire-prone clima- te requires the inclusion of efficient and long-term sustainable fire management practices in order to protect ecosystems, natural resources and the population. Recent events such as destructive fire seasons and global spread of diseases brought attention to efficiency of current management strategies and promote the inve- stigation of indigenous and traditional knowledge, seen with potential for long-term sustainability, ecosy- stem restoration, and climate mitigation. Aboriginal fire management practices undertaken in the Kimberley Region and the Northern Territory of Australia are investigated and evaluated accordingly with socio-eco- nomic, environmental and societal standards, to create an overall scenario where fire is understood as a common resource, manageable and equally valuable as water and land. If seen as a common and managed as such, fire can be beneficial for long term sustainability, with the potential to address biodiversity conser- vation, resource management practices, and climate change mitigation.