This report presents the results of a ten-year Fisheries Co-management Research Project in Asia. The project was a collaboration of the WorldFish Center, the Institute for Fisheries Management (Denmark), and national research partners in Bangladesh, Indonesia, Malaysia, the Philippines, Thailand, and Vietnam. Phase 1 ran for five years from 1994 to 1998 and Phase 2 ran for another five years from 1999 to 2003. The project was based on a mutual interest to gain practical experience in research on fisheries co-management; to evaluate its applicability as a sustainable, equitable and efficient management strategy; and to develop models for use and adoption by governments, fisheries communities, NGOs and others. The project has identified the principles and conditions for implementation of fisheries co-management as a sustainable, equitable and efficient management strategy. The prospects for successful implementation were also assessed.