Cattle production is part of people's cultures and is important for human nutrition and welfare. However, conventional cattle ranching is a source of greenhouse gas (GHG) emissions. Carbon sequestration in vegetation and soils can be enhanced and GHG emissions reduced with controlled grazing, appropriate pasture species, and the use of silvopastoral systems (SPS), which combine trees and shrubs with pastures. In addition, SPS contribute to climate change adaptation thanks to the ameliorating effects of trees on air temperatures that dry out pastures, as well as improving animal well-being and productivity. Several types of SPS are commonly found in the agricultural landscapes of Latin America. Intensive SPS (ISPS), where fodder banks are combined with woody species planted at high density, produce better yields than conventional ranching thanks to higher cattle density and better weight gain by the animals. Research in Colombia, Nicaragua and Costa Rica shows that SPS have more carbon in aboveground biomass and in soils than degraded pastures. In SPS, the timber or fruit trees, either planted or from natural forest regeneration, increases carbon stocks and sequestration rates. Native tree species can be used in SPS with good results in terms of productivity, soil restoration, carbon sequestration, and biodiversity conservation. The use of SPS contributes to carbon sequestration in trees and in soils, while establishing forest plantations and conserving secondary forests increase carbon sequestration and storage at the landscape level. SPS and especially ISPS can contribute to climate change mitigation because their net GHG emissions can be negative. In Latin America, successful ISPS are being scaled up to regional levels. Incentives such as Payments for Environmental Services along with technical assistance can stimulate the adoption of SPS, thus contributing to climate change mitigation while preserving rural livelihoods.