Smallholder poultry as a tool for poverty alleviation has been developed and widely applied in Bangladesh. In this paper, the evolution of the model has been summarized and studies conducted to assess the impact of the poultry model at various stages of its evolution have been critically reviewed. The results indicate that the project has reached the poor though not always ultra poor, the main target of the model, and that participants have benefited positively in terms of income, consumption and nutrition, empowerment of women. However, the results need to be assessed with a high degree of caution because of several methodological limitations of the impact studies. These limitations have been illustrated and suggestions have made for more objective assessment of impact of past projects and for conducting additional research for supporting smallholder poultry as a tool for poverty alleviation.