< p > The present study deals with the assessment of species diversity, regeneration potential and carbon stock of Myrica esculenta (Buch.-Ham. ex D. Don) trees at different forest sites around Nainital. The density of trees, saplings and seedlings across different forests varied from 660-860, 460-1410 and 1480-3130 ind.ha^-1. The species diversity ranged from 1.979-2.322, 1.525-2.024 and 1.689-2.142, for trees, saplings and seedlings, respectively. Among forests, the regeneration was best in Cypress mixed forest. Thus, the presence of either seedlings or saplings of new tree species in the forest site 1 and 2 indicate that the forest may be replaced by these species in near future. Total trees biomass of forests ranged from 213-349 t ha^-1. Of this, M. esculenta accounted for 9-24%. Total carbon content of trees in forests ranged from 101-166 t C ha^-1. M. esculenta (Kaphal) fruits are edible and trees are destroyed for fuel wood by local people, therefore, Kaphal trees are under high anthropogenic pressure. Thus we need to pay attention and take proper care for management and conservation of forest sites with Kaphal trees.