Climate change and variability affect virtually everyone and every region of the world but the effects are nowhere more prominent than among rural marginalized communities that rely heavily on agriculture and fishing for a living and they face numerous livelihood challenges including risk posed by variability of climate. Using phenomenological research methods, interviews with key-informants, focus group discussions (FGD), household survey with standardised questionnaires and case study approach, the present study analyzes the perceptions of climate change and its impacts on livelihoods and well-being of rural marginalized communities in rural Dakshin Dinajpur district of the state of West Bengal, India and coping mechanisms adopted by these communities were also examined using participatory social research techniques. The research is primarily based on primary data which have been collected at household level using multistage purposive sampling methods and total sample size is 154. Descriptive and inferential statistical methods were employed for data analysis. The results were discussed in the context of the sustainable livelihoods approach and findings depicts that there is a decreasing trend in the availability of water for domestic purposes, crop failure and low agricultural production, reduction in human health, poor livestock health and a range of other problems due to climate change which subsequently impacted on their livelihood. Indigenous and local knowledge were widely used in dealing with the effects of climate change, while modern technologies were underutilized among marginalized communities. Farmers and fisherman's used multiple adaptation strategies to combat climate change effects such as modifications in farm management, migration, selling labour to neighbourhoods, measures related to financial resources and risk reduction, borrowing funds from local money lender as well as family and neighbours, credit programmes and assistance from NGOs and reducing household food consumption. Large-scale education, training programmes, development interventions and policies targeted at enhancing resource endowment are needed. The findings from this study can help policymakers and other stack holders about ongoing adaptation measures as well as the needs of households, bring out the gap between farm households and policymakers and also to develop suitable policies and effective adaptation strategies to enhance the livelihoods within this context of local marginalized communities context.