The recent performance of poultry industry in Nigeria has fallen below expectation due to high cost of feed arising from fluctuations in rising prices of ingredients, and inefficiency in production. This study is aimed at analysing the effect of coping strategies with rising feed costs as a determinant factor for poverty alleviation among poultry farmers in south-West, Nigeria. The study employed a quantitative research approach using a survey research design. Multistage sampling procedures were used in selecting three states (Lagos, Ogun, and Oyo) from South-West zone in Nigeria. In the second stage, 575 poultry farmers from all Poultry Association of Nigeria zones were selected using simple random sampling technique. Data were collected using structured questionnaire, and analyzed with the use of descriptive and inferential statistics. The results of the study showed that the adopted strategies used by the farmers were Use of Finished Feed (24.70%), Mixed Farming (48.00%), Downsizing of Flock Size (16.10%), No Change of Strategies (6.20%), Verge of Exiting the Venture (5.20%). It was observed that majority (70.7%) of the poultry farmers were living below the poverty line (₦48,500/month) which was estimated using mean per capita household monthly expenditure while 29.3% of them were living above the poverty line. The result also shows that an increase in the coping strategies will lead to 80% decrease of poverty level of the poultry farmers in the study area. The study therefore concluded that farmers should adopt the most suitable coping strategy available to reduce the effect of rising feed cost.