This study analyzed the socio-economic factors affecting adoption of innovation by cocoa farmers in Ondo State. Primary data were collected in a cross-sectional survey of 120 randomly selected cocoa farmers. These were drawn in a multi-stage random sampling process that purposively covered two dominant cocoa producing Local Government Areas (LGAs) of Ondo State Nigeria, namely, Idanre and Ondo West. The data were collected usinga structured interview schedule, designed to elicit information on the socio-economic characteristics of the cocoa farmers, the various innovations available to the cocoa farmers for improved cocoa production, the adoption rate of the innovations, and the constraints faced by the cocoa farmers. The data were analyzed using descriptive statistics, and multinomial logistic regression. The study found that most 65.0% of the cocoa farms were operated by males, with a mean age of 51 years. Majority 72.5% had primary school education, with mean cocoa farm size of 6.32 hectares. The study also showed that the adoption rates of disseminated innovation/technologies in the area was low. Adoption models indicated that sex and level of education of the farmer affected the adoption decisions of cocoa farmers concerning the disseminated technologies analyzed in this study. The study also revealed in addition that high cost of inputs, lack of funds, lack of supporting inputs, scarcity of complimentary inputs, problem of diseases / pests as the most serious problem/constraint faced by the cocoa farmers. The study concluded that most of the cocoa farmers in the study areas did not adopt cocoa innovations disseminated to them and that the adoption rate innovations of the cocoa farmers was low. The study recommended that government and other stakeholders need to invest in extension service in sensitizing cocoa farmers in the study areas of new innovations as this have the potential to increase adoption rate as well as farmers productivity and income.