Approaches towards the management of artisanal fisheries have been enlightening the scientific literature for approximately the last 20 years. Coming from diverse disciplines such as anthropology, biology, economy, and ecology (especially human ecology), these approaches have dealt with common theory, strategies for cooperation, decision-making models, cultural contexts, and local knowledge. Fishery management depends on an understanding of the interactions between humans and aquatic resources, and in case of indigenous or of native populations, forestry resources are also considered for livelihoods. Acquiring an understanding of the local knowledge about fish and other resources, of collective local arrangements and institutions, of market interactions, and of the decision-making processes of fishers is fundamental for the management of artisanal fisheries. This review includes historical and current approaches associated with the management of artisanal fisheries. These approaches include the following: (a) cultural and human ecological approaches, including ecological models such as optimal foraging theory; (b) institutional approaches, including processes of cooperation associated with local knowledge and institutions; and (c) current ecological-economic propositions towards fishery management, such as payments for environmental services. 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