Increasing conservation efforts have led to increases in wolf populations in Europe. However, the resulting conservation conflicts erode conservation support when farmers and rural citizens fear for their livelihoods. Fostering human–wolf coexistence can be achieved through a variety of strategies. By using the Institutional Analysis and Development (IAD) framework, I provide a general policy perspective on strategies for human–wolf coexistence. These can be synthesised into eight strategies and include: (1) wolf habitat and population management, (2) scientific research and exchange, (3) education and awareness, (4) farm-level livestock protection (including new technologies), (5) resolution and mediation of conservation conflicts, (6) community-based conservation and (7) financial instruments. These strategies need to be embedded into (8) legal protection frameworks and policies. I then identify missing strategies and emerging opportunities for wolf conservation in Switzerland specifically, which is a relevant case study due to mounting opposition among rural citizens. I suggest that two strategies in Switzerland’s approach to human–wolf coexistence are missing, which can create sustained co-benefits for both humans, especially farmers, and wolves: financial instruments (including benefit sharing and conservation performance payments) and community-based conservation. These findings aim at stimulating scientific debate as well as exploring their applicability in Switzerland through policy for a holistic approach to human–wolf coexistence.