Globally, cocoa is famous for the production of chocolates and beverages. However, it also serves as a source of raw material for the manufacturing of high-quality cosmetic and pharmaceutical products. Due to its high demand, cocoa is regarded as a major commodity for poverty alleviation in deprived cocoa farming communities. Government has therefore instigated relevant measures to address issues facing the sector by investing in extension programs. These programs act as information dissemination tools for teaching modern farming technologies and enhancing learning among farmers. This study highlighted the effects of the Cocoa Life Project (CLP) by Cooperative for Assistance and Relief Everywhere (CARE) International on farm productivity and income of 200 cocoa farmers in three districts of the Eastern Region, Ghana. Regression on covariates, Heckman’s treatment effects model, and propensity scores were used to test the robustness of the estimates. A positive association between extension program participation, farm productivity, and household income was discovered. Specifically, after correcting for selection bias, the estimated results of the Heckman’s model showed that the extension program significantly increased participating farmers’ cocoa yield by 14.3%. The effects on total farm income showed a significant increase of 25.1 and 42.9%, respectively from regression on propensity scores and the Heckman’s model. Across all three models, program participation led to an increase in total household income by 46.1, 31.7, and 69.3%, respectively. Other variables such as farming characteristics, institutional and demographic factors affected farmers’ income, depending on the estimation method used. This study reiterated the supporting role played by extension programs in enhancing cocoa production and increasing household income in Ghana. Conclusively, government and development partners should invest in extension programs by providing enough logistics, training qualified agents, and creating a conducive atmosphere to support learning and technology adoption.