Poverty remains a pervasive and multifaceted challenge in developing countries, posing critical impediments to sustainable economic and social development. In alignment with the core objectives of the United Nations Sustainable Development Goals (SDGs), the present study aims to identify, evaluate, and prioritize the most effective poverty alleviation strategies within the context of developing economies. Through an extensive review of existing literature and expert consultation, seven primary strategies were identified, encompassing economic growth stimulation, economic and institutional reforms, prioritization of the basic needs of impoverished populations in national development policies, promotion of microfinance institutions and programs, development and improvement of marketing systems, provision of incentives to the private sector, and implementation of affirmative actions such as targeted cash transfers. To systematically assess the relative importance of these strategies, the Stepwise Weight Assessment Ratio Analysis (SWARA) technique was employed within a Fermatean fuzzy (FF) environment. The application of this hybrid method facilitated the extraction of nuanced expert judgments, thereby enhancing the robustness and credibility of the prioritization process. The findings indicate that fostering economic growth, implementing structural economic and institutional reforms, and promoting microfinance institutions and programs represent the most impactful and actionable strategies for poverty reduction. These results offer valuable insights for policymakers, development agencies, and stakeholders engaged in formulating targeted interventions to accelerate poverty eradication. The integration of the FF-SWARA approach further demonstrates its applicability in complex multi-criteria decision-making (MCDM) scenarios characterized by uncertainty and imprecise information, particularly in the domain of sustainable development planning.