This article examines the experience of market-led agrarian reform (MLAR) implementation in Brazil. In doing so, it will also analyse the complexity of the Brazilian agrarian situation, the political struggles around the fight for land and the complexity of political forces involved in the contestation. The article examines the origins, implementation process and outcomes of MLAR. The paper also examines the current impasse in resolving the agrarian question in the country especially those related to the strengthening of land property rights at the same time that there are increasing demands for land by social movements, putting into broader context the current political and operational difficulties being encountered by MLAR.