The páramo, a collection of Neotropical alpine ecosystems, plays a prominent role in ecosystem services (ESs), providing water supply and regulation, conservation of biodiversity, and carbon storage in soil. The establishment of pine plantations for carbon sequestration and wood production has recently raised questions concerning the possible impact on the páramo’s ES. This study identifies the main stakeholders in this field and compares and contrasts their perceptions of the impact of pine plantations on the páramo’s ES, because the disparity among stakeholders’ perceptions must be addressed to achieve sustainable management. The data were gathered using 56 semi-structured interviews and were qualitatively analyzed. The results show that the main stakeholder groups (landowners, local government officials, foresters, and nature conservationists) acknowledge the important ES of the plantations. The perception of plantation impact varies among and within stakeholder groups, however, on specific functions, such as water provision, carbon storage, erosion prevention, and habitat function for wildlife and natural vegetation. Consideration and integration of these perceptions can help policy makers and organizations develop sustainable policies for the future management of the páramo ecosystem.