Hybrid rice (Oryza sativa L) cultivars exploit hybrid vigor to break the yield ceiling of their inbred counterpart thereby increasing productivity per unit area. Crop varieties released in developing countries are often poorly adopted as a result of their failure to meet farmer and consumer trait preferences. This study was therefore conducted to identify key farmer preferred traits, assess farmers' general rice agronomic practices and the potential for adoption of hybrid rice through formal and informal survey approaches. Farmer preferred traits include high yield, early maturity, and good grain quality, but few others, their preferences varied according to location. High cost of hybrid rice seeds was identified as a major challenge. There will be the need for reasonable pricing such that the return from growing hybrid seed is high enough for farmers to recognize the value of growing hybrids. Forty per cent (40%) of the responding farmers were found to employ seed wasting practices such as broadcasting and dibbling. Farmers gave mistrust and unreliable seed supply as the main reasons for their low patronage of the formal seed system. Only two per cent (2%) of the responding farmers purchase seeds from private seed companies. It will be necessary to revamp the formal seed system to encourage farmer patronage and private sector involvement for successful roll out of hybrid rice technology in Ghana. Considering the expected yield advantage (>50%) and the price farmers will like to pay (GH¢3.3; $0.8), the prospects of hybrid rice adoption could said to be low.