In the European Alps, subalpine forests are important for lichen diversity conservation at multiple levels. However, the potential role of coarse woody debris (CWD) has been only marginally considered in the previous literature. The aims of this case study are (i) to provide a first evaluation of the effects of different types of CWD (stumps, logs, and snags) and wood decay on lichen diversity in Pinus-Larix forests in the Italian Alps, and (ii) to increase the knowledge of the lichen biota on CWD in Italy. Seventy-eight species were found, including 12 nationally rare and 10 calicioid species; Placynthiella hyporhoda is new to Italy. Different types of CWD in different decay stages had significantly different lichen communities. Snags seem to be particularly effective for conservation, since they host the highest number of nationally rare species. Our survey suggests that CWD could be an important substratum for several nationally rare species, indicating that further surveys at a regional scale are urgently required in order to evaluate the role of CWD for lichen diversity conservation in the Alps.