Overlapping land use allocations, in which one parcel of land is allocated two or more times for different uses, either intentionally or unintentionally, are common globally. We assess how overlapping land use allocations impact forest cover change using Peruvian government data for the lowland Amazon. Results are based on propensity score matched difference-in-differences methods using 1-ha resolution forest loss data for 2000–2014, along with Peruvian government land use allocation data. We find that deforestation is lower in overlapping than in same-type, non-overlapping allocations. This finding is consistent across all types of overlapping land use allocations. These results support the hypothesis that multiple use management decreases deforestation, and provide no evidence indicating that overlapping allocations are a form of tenure insecurity that might increase deforestation. Our findings inform conservation policy related to multiple use management, land tenure security, and conflict avoidance.