Abstract. The present study analyzes the tourist activity of observation of the Iberian wolf in Spain as an alternative to other traditional tourist modalities in rural areas. The own experience within the sector has been crucial to understand its dynamics and develop this work. It studies the upward trend of nature tourism in general and the observation of the Iberian wolf in particular, the modus operandi of the activity is described and its main impacts are exposed. Wolf tourism generally provides benefits for the local population in economic, environmental and socio-cultural terms. Its compatibility with the environment and the intrinsic characteristics of the activity closely linked to a sustainable, fresh and offline tourism turns this sector into an interesting tool to mitigate the demographic, economic and social emptying of some areas of Spain. Key words: Iberian wolf, wildlife tourism, environmental education, local development, territorial intelligence, Spain.