Mangroves provide essential ecosystem services including coastal protection by acting as coastal greenbelts; however, human-driven anthropogenic activities altered their existence and ecosystem functions worldwide. In this study, the successive degradation of the second largest mangrove forest, Chakaria Sundarbans situated at the northern Bay of Bengal part of Bangladesh was assessed using remote sensing approaches. A total of five multi-temporal Landsat satellite imageries were collected and used to observe the land use land cover (LULC) changes over the time periods for the years 1972, 1990, 2000, 2010, and 2020. Further, the supervised classification technique with the help of support vector machine (SVM) algorithm in ArcGIS 10.8 was used to process images. Our results revealed a drastic change of Chakaria Sundarbans mangrove forest, that the images of 1972 were comprised of mudflat, waterbody, and mangroves, while the images of 1990, 2000, 2010, and 2020 were classified as waterbody, mangrove, saltpan, and shrimp farm. Most importantly, mangrove forest was the largest covering area a total of 64.2% in 1972, but gradually decreased to 12.7%, 6.4%, 1.9%, and 4.6% for the years 1990, 2000, 2010, and 2020, respectively. Interestingly, the rate of mangrove forest area degradation was similar to the net increase of saltpan and shrimp farms. The kappa coefficients of classified images were 0.83, 0.87, 0.80, 0.87, and 0.91 with the overall accuracy of 88.9%, 90%, 85%, 90%, and 93.3% for the years 1972, 1990, 2000, 2010, and 2020, respectively. By analyzing normalized difference vegetation index (NDVI), soil adjusted vegetation index (SAVI), and transformed difference vegetation index (TDVI), our results validated that green vegetated area was decreased alarmingly with time in this study area. This destruction was mainly related to active human-driven anthropogenic activities, particularly creating embankments for fish farms or salt productions, and cutting for collection of wood as well. Together all, our results provide clear evidence of active anthropogenic stress on coastal ecosystem health by altering mangrove forest to saltpan and shrimp farm saying goodbye to the second largest mangrove forest in one of the coastal areas of the Bay of Bengal, Bangladesh.