Abstract A forest-management area which has to be managed in given natural circumstances with certain economic and environmental aims is presented through a dynamic model. In order to develop and manage a model, this article deals with strategies of forest management which result in maximal sustained financial yield. Since the process that directs the development of the forest management area is long-term and consists of several stages, the structure of the model has been created using a discrete dynamic programming, based upon Bellman's principle. The model presented was tested on a small and simplified example of the forest management area. The obtained results confirm that the model could be of practical use and easily extended by introducing more complexity into it.