Malaria still poses significant risks, especially in India. In addition to averting behaviors, forests may help reduce mosquitoes in rural areas and, thus, the malaria incidence and mortality. However, the evidence is still scarce about the magnitude and value of this ecosystem service. To address this gap, we use a panel dataset for 2013–2015 and evaluate the impact of forest loss on malaria morbidity in India's rural areas. We find that, on average, the loss of 1 km2 of forest resulted in 0.16 additional deaths per 100,000 people. This translates into marginal values of forests for reducing malaria mortality of, at least, $1.26–85.9/ha/year in 2015 US$. Our results suggest that combining forest conservation and traditional anti-malaria policies like indoor spraying and insecticide-treated nets may be an effectual way to mitigate the malarial burden in India and elsewhere and offer insights about the value of potential payments for ecosystem services.