Food sovereignty and neo-extractivism are two highly contentious concepts that have emerged in the development studies literature and as development alternatives pursued predominantly by governments in Latin America. This paper analyzes the dynamics of this post-neoliberal model in Bolivia, providing insights into the convergences and contradictions of neo-extractivism and food sovereignty. Rather than challenging or transforming the neoliberal model of development, it is argued that the post-neoliberal model has been used strategically by states to gain and maintain legitimacy while facilitating and even exacerbating exploitative forms of extractivism for the accumulation of wealth and power. This has been possible, in part, due to the contradictory class positions that have materialized as the rural poor are increasingly dependent upon, and adversely incorporated into, new ‘modes of extraction’.