Social protection transfers are the most widespread measures adopted to stabilize refugee households’ livelihoods and alleviate their food insecurity. This paper contributes to the literature on the effectiveness of different types of support on livelihoods and productivity outcomes of one of the largest refugee populations in Africa. Taking advantage of a unique panel dataset representative of the largest part of the 1.4 million people hosted in the Uganda refugees’ settlements, this paper investigates how different social protection interventions (cash and food) are effective in alleviating food insecurity and in contributing to beneficiaries’ self-reliance. The results show that the effectiveness of transfers depends on beneficiaries’ characteristics, on context specificity, and on the outcome assessed.