Malawi is among the most poor and food insecure countries in the world according to UNDP’s Human Development Report (2004). Agriculture is the driving force of the economy of Malawi and the backbone to food security. The government of Malawi introduced a program called One Village One Product (OVOP) in 2003 whose major objective is poverty reduction by bringing economic independence into the communities. However, no effort had been made to evaluate the program and its activities hence creating an information gap. This study was therefore conducted in OVOP operation area of Bvumbwe in Thyolo district, Malawi to assess the impact of One Village One Product (OVOP) program on households’ farm income and its implications on food security. Primary data was collected from a total of 80 beneficiaries and non-beneficiaries of One Village One Product (OVOP) program. Out of the 52 beneficiaries, 40 were systematically selected and the other 40 was collected randomly from the non-beneficiaries in the area. The data were collected in April 2006 by the use of structured questionnaires and focus group discussion guide. Data was analyzed using descriptive statistics, chi – squares, t-test and the Ordinary Least Squared Technique of multiple regression method. A likert scaling technique was used to rate farmers’ perception of the effect of OVOP on farm activities. The results indicated that there was a significant difference in the levels of household farm income between beneficiaries and non beneficiaries of OVOP. The OVOP beneficiaries were found to be better off in terms of household food security through increased food basket, enterprise diversification and food access which was attained through higher farm income. However, farmers’ socio-economic characteristics did not adequately explain the disparity in household farm income. This implies that there are some other factors that are closely associated with agricultural production and participation in programs such as OVOP, which may require further investigation. Participation in OVOP and household size were found to be positively associated with household farm income. The study recommends expansion of the OVOP program to target the vulnerable groups and government intervention fast track infrastructural development in the area to facilitate value addition, processing and storage facilities.