The original Estate of Balmoral consisted of 4,500 hectares (over 11,000 acres) of hill, woodland and small tenant farms. Over the years, further land was acquired expanding the area to about 20,000 hectares (nearly 50,000 acres) at present. Farming is difficult because of the nature of the ground and the climate.

Over 3,000 hectares (nearly 7,500 acres) are planted with trees, which provides shelter for red deer; ponies are kept for trekking and deer retrieval during the stalking season; The Queen founded the Balmoral fold of Highland Cattle in 1953; and game resources of deer, grouse and salmon fishing provide employment and earn revenue for the Estate. The Resident Factor is responsible for the management of the Balmoral Estate, and about 60 people are employed on the Estate.

Bought in 1878 by Queen Victoria to save it from a timber merchant, the 6,420 acre Ballochbuie Forest now contains one of the largest remnants of the old Caledonian Pine Forest left in the country. A 50-acre regeneration block of trees was established in 1979 by The Duke of Edinburgh, and was showing such encouraging signs of regeneration that the area was expanded to 950 acres in 1992.

In 1974 the Estate designated the area around Lock Muick and Lochnagar as a wildlife reserve and built and equipped a visitors' centre. Up to 180,000 hill walkers and visitors use the open countryside and hills on Balmoral Estate each year: public access has to be balanced against protection of the environment, particularly the natural habitats for which the Estate is well known. To this end, recommendations for a visitor strategy have been prepared by outside consultants instructed by Balmoral Estate, together with representatives of government bodies, recreational interests and the local community.

The Estate grounds, gardens and exhibitions (including works of art and furniture from the Castle displayed in the Ballroom) are open to visitors, and from May to July each year are enjoyed by over 80,000 visitors.