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Conservation strategies are rarely systematically evaluated, which reduces transparency, hinders the cost-effective deployment of resources, and hides what works best in different contexts. Using data on the iconic and critically endangered orangutan (Pongo spp.), we developed a novel spatiotemporal framework for evaluating conservation investments. We show that around USD 1 billion was invested between 2000 and 2019 into orangutan conservation by governments, non-governmental organizations, companies and communities. Broken down by allocation to different conservation strategies, we find that habitat protection, patrolling and public outreach had the greatest return-on-investment for maintaining orangutan populations. Given variability in threats, land-use opportunity costs, and baseline remunerations in different regions, there were differential benefits-per-dollar invested across conservation activities and regions. We show that, while challenging from a data and analysis perspective, it is possible to fully understand the relationships between conservation investments and outcomes, and the external factors that influence these outcomes. Such analyses can provide improved guidance towards more effective biodiversity conservation. Insights into the spatiotemporal interplays between the costs and benefits driving effectiveness can inform decisions about the most suitable orangutan conservation strategies for halting population declines. While our study focuses on the three extant orangutan species of Sumatra and Borneo, our findings have broad application for evidence-based conservation science and practice worldwide.