The rich and diverse fish resources of Oman constitute its main natural resource after oil and natural gas. A total of 1142 species were identified, distributed among 520 genera and 164 families. Most of these are marine with broad geographical distribution; only four are freshwater species (Cyprinion micropthalmum, Garra barreimie, G. longispinnis, andOreochromis aureus).The ichthyofauna of Oman is characterized by large number of species in 21 families, comprising 92.6% of the estimated total number of marine families of the whole Indo‐Pacific region, and 49.9% of the worldís marine families. The Arabian Sea and Gulf of Oman are more diverse in fish species (‐1000 fish species) than the Arabian Gulf (> 500 fish species). More than 400 species are demersal, 511 species inhabit coral reefs and coastal lagoons, two are mesopelagic species, and the remainder are pelagic (157), bathypelagic (30), and bathydemersa] (7 species). Current fishing effort levels on some target species are either close to maximum sustainable yield or exceed it. A shift in species composition has resulted in declining landings of some high value fishes. A pilot aquaculture program has just started with the introduction of sea bream,Sparus aurataand tilapiaOreochromis aureus.Fisheries management is hampered by lack of appropriate management regulations, enforcement, and data on most stocks. Coastal habitats are being threatened by both natural and man‐made impacts. Fisheries research programmes are directed to fish taxonomy, ecology, biology, and stock assessment of some commercially important species. An extensive fish database and reference collection are currently being established at Fisheries Science and Technology Department, Sultan Qaboos University. Local human resources are needed to support the rational development and management of fishery resources.