Management of aquatic biodiversity and genetic resources, abbreviated here as FiGR (fish genetic resources), comprises both their conservation and sustainable use. Recognition of the need to manage FiGR has a much shorter history than that for plant and livestock genetic resources. Moreover, the adverse impacts of humans on FiGR have been and continue to be serious and inadequately addressed by countermeasures. FiGR are now higher than ever before on the agendas of the Convention on Biological Diversity and of other institutions and agencies; for example, FAO, ICLARM-The World Fish Center, IUCN, and the World Fisheries Trust. This paper examines the concept of management units for FiGR and suggests actions for more effective management including: adoption of an integrated ‘conservation and use’ approach; more systematic use of professional expertise on fish genetics by policymakers and developers; a balanced, intersectoral perspective; valuation of FiGR; and standardization of FiGR management terminology.