Community-based tourism (CBT) is expected to bring dual benefits to the local community and environmental protection. However, the CBT is still limited and unevenly developed in Vietnam. The purpose of this paper is (1) to explore the current situation and potential of CBT in Thua Thien Hue province; (2) to analyze the stakeholders related to CBT activities; (3) to find out the obstacles of CBT in practice. The data were collected through secondary documents and literature review. In-depth interviews and focus group discussions were conducted in Hong Ha and Quang Loi communes. The results show that Thua Thien Hue province possesses great potential for CBT development because of the unique nature, historical heritage, and diversity of indigenous cultures. The results also clearly indicate that the number and role of stakeholders in each case are different and uncertain. Both Hong Ha and Quang Loi face limitations concerning the capacity of the government and community. Therefore, for ensuring the sustainable development of CBT, it is necessary to connect the stakeholders closely and facilitate local community values.