Conflicts caused by reintroduced native species are increasing; however, there is a knowledge gap concerning ecological knowledge and perception of local community members regarding the impact of these species on local ecosystem services and livelihoods. We studied local knowledge about beavers and the perception of their impact on ecosystem services and local livelihoods, and the perception of their general harmfulness and usefulness in Hungary and Romania in three ecologically distinct, diverse rural landscapes. Structured interviews were carried out with 45 knowledgeable and 45 randomly selected local informants. We found that locals were knowledgeable about legal status, biology and behavior of beavers and their diverse impact on nature and ecosystem services. Perceptions included mostly negative impacts on provisioning services, while both negative and positive impacts on regulating and cultural services were perceived, including some contradictory impacts of the species. In spite of the actual and anticipated potential future harms caused by beavers, most people appreciated its precise building mastery and 'cute' nature. We argue that communication between nature conservationists and locals should reflect this complexity of perceptions, while reciprocal learning could help to moderate local conflicts and develop adaptive management strategies.