An analytical review of the stock assessment and fishery regulation of the Barents and Norwegian Seas beaked redfish is presented. Model estimates of stock dynamics are characterized by uncertainty associated with incomplete coverage of the beaked redfish distribution in surveys, age determination problems, and assumptions made in the model. The regulation of fishing mortality is based on the precautionary approach, and the main management aim is achievement of the maximum sustainable yield. Technical measures include limiting the minimum mesh size in the trawl, establishing a minimum fish length for fishery, temporal fishery closures and limiting by-catch in multi-species fisheries. The unregulated fishery of the Norwegian-Barents Sea beaked redfish in the 1970s was one of the reasons for the decline in its stock and appearance of poor recruitment, which led to the ban on its targeted fishing in the Norwegian Economic Zone and in the fish protection area of the Svalbard. In 2014, the fishing was reopened. At present, the stock of beaked redfish of the Norwegian-Barents Sea population is in a safe state and further growth of the catch is expected.