Total mercury (THg), methylmercury (MeHg), and selenium (Se) concentrations were measured in various commercially important fish species. The benefit–risk binomial associated with these chemicals was assessed in children through the probability of exceeding the provisional tolerable weekly intakes (PTWIs) of the contaminants and the Se recommended dietary allowance (RDA). The Se:Hg molar ratios, selenium health benefit values (HBVSe), and monthly consumption rate limits (CRmm) for each species were also calculated. THg and Se were analyzed by atomic absorption spectrophotometer (Shimadzu, Milan, Italy), while MeHg was determined by Trace Ultra gas chromatograph connected with a PolarisQ MS (Thermo Fisher Scientific, Waltham, MA, USA). None of the analyzed fish had Hg levels above the European Community regulatory limits, while most large predators had MeHg levels over the threshold concentration set by US EPA. The estimated weekly intakes of THg and MeHg exceeded in many cases the PTWIs and the Se estimated daily intakes were provided from 0.71% to 2.75% of the RDA. Se:Hg molar ratios above 1 and positive HBVSe index suggested that Se in fish could be enough to alleviate the potential toxic effect of Hg. However, high-risk groups as children should consume fish in moderation because a large consumption pattern, especially of swordfish and tunas, might be of concern for health.