California papaya is one of the varieties papaya that is widely cultivated in Indonesia. One of regions that producing the commodity is Kebumen Regency, specifically in Tambakmulyo Village, Puring District. But, a disease attack on California papaya’s plant caused most farmers have harvest failed. This made farmers feel worried to do California papaya cultivation again. This study aims to find out the investment cost, operational cost, and benefit of California papaya in Tambakmulyo Village, Puring District, Kebumen Regency, and to find out the feasibility of California papaya farming in Tambakmulyo Village, Puring District, Kebumen Regency. The method used is descriptive analysis. Sampling was done purposively for 20 farmers from the existing population. The result of this research indicate that the investment cost used in California papaya’s farming for 1000 m2 area is RRp.6.151.113, operational cost is Rp.15.579.429, and the resulting benefits is Rp.30.812.800. California papaya’s farming has a decent category to run with a NPV value of Rp.6.075.052, Net B/C of 1,49, IRR of 50,14%, and PBP for 11,6 months.