In recent times, with the globalization of markets, shrinking of land and climate change, food basket diversification, increase in demand for nutrient-rich food, the protected cultivation of high-value crops (HVCs) have assumed a pivotal role in augmenting higher crop productivity and profitability and enhancing nutritional security of the growing population. In this context, a study was undertaken to analyze the impact of protected cultivation in horticultural crops in the districts of Almora and Dehradun in the Uttarakhand state. It was mainly based on primary data obtained through a primary survey and focus group discussion with the 96 farmers practicing protected cultivation by using a well-structured and pre-tested questionnaire. In economic analysis, the project analysis tools were used to assess the feasibility of the protected cultivation. The study clearly demonstrated that the cultivation of vegetables and flowers under protected cultivation is a highly profitable enterprise. However, the findings of the study indicated that the subsidy scheme needs to be continued to encourage maximum farmers to adopt protected cultivation and farmers need to be encouraged to form farmers producers organizations (FPOs), which would help them in seeking better quality of inputs and enhancing negotiating power in the market to realize maximum returns for their farm produce.