This study aims to analyze the effectiveness of the Ajibarang Market revitalization program in improving traders’ welfare from the perspective of Islamic economics. The revitalization program was initiated by the local government to improve market facilities, infrastructure, and management so that traditional markets can be more organized, clean, and competitive against modern retail outlets. Ajibarang Market plays a strategic role as one of the main markets in Banyumas Regency, serving as an economic hub for surrounding communities. However, after the revitalization project, various perceptions emerged among traders regarding its actual impact on their welfare. This research uses a qualitative approach with a field research method. Data were collected through in-depth interviews with traders and market management officials, field observations, and documentation studies. The results indicate that the revitalization brought positive changes to the market’s physical condition, particularly in cleanliness, comfort, and safety. However, the improvement in traders’ welfare remains uneven due to several challenges such as higher operational costs, competition from modern markets, and the growing influence of digital commerce. Nevertheless, many traders experienced better business comfort and increased customer trust after the revitalization. From an Islamic economic perspective, the revitalization of Ajibarang Market reflects the values of justice and public welfare (maslahah), as it aims to enhance social well-being and create a fair, ethical, and sustainable trading environment. The revitalization has proven effective in improving physical aspects but still requires further empowerment programs, transparent management, and equitable facility distribution to strengthen its impact on traders’ welfare. Hence, the expected welfare (falah) should encompass not only material prosperity but also moral and spiritual well-being in accordance with Islamic economic principles.