This editorial article of the special issue “Ecosystem Services and Collective Action: New Commons, New Governance Challenges” examines the synergies and tensions between the ecosystem services (ES) framework and the theories on collective action for environmental governance. The literature and the contributions of this special issue illuminate the multifaceted nature of these interactions. By revealing new socio-ecological interdependencies and emerging commons, the ES concept raise opportunities of collective action and polycentric institutional arrangements, and can operate as a boundary object in collaborative processes. However, we also stress the importance of considering, in both research and policy design, the inherent challenges of collective ES governance regimes and the complexities of the underlying social processes, including: the rise of shared perceptions and common beliefs; the development of new social networks and trust relations; the recognition of multiple values and worldviews, notably non-utilitarian values; the management of conflicts and power asymmetries; and the context-dependency of institutional arrangements.