Due to Indonesia's major emissions are related to deforestation and land degradation, hence "Reducing Emissions from Deforestation and Forest Degradation" (REDD+) program has become an eminent priority in Indonesia. Financing mechanism is one of foremost elements in REDD+ strategy which important to be considered. REDD+ financial mechanism offers two approaches through carbon market and financial incentive. Meanwhile the national voluntary carbon market has not established yet, project developers could offer their carbon to the international market. This study aims to recognize the challenge of REDD+ financing mechanisms in Indonesia. Literature review, web-based sources, information through REDD+ workshop/seminar/public discussion and existing data were used to compile into one synthesized datum. Through desk analysis, we attempt to seize current REDD+ financing mechanism in Indonesia during the readiness phase towards full implementation of REDD+ post 2012. Up to now, REDD+ financing mechanism is still project-based payment. The Government has established Indonesian REDD+ Partnership Fund, Indonesia Climate Change Trust Fund and some regulations, however, there are still many remaining elements need to developed and synchronized in order to formulate trading mechanism of Indonesian forest carbon emissions reduction and the national voluntary carbon market.