This study focuses on the feasibilities of Marine Recreational Fishing at Hsiao- Liu-Chiu Island by presenting its resource distribution and discussing the current fishing business conditions around the island. The current situations of local re- creational fishing businesses are evaluated by SWOT analysis. Tourists who visit the island are surveyed as research subject. Through questionnaires and field recreation activity investigation, this study demonstrates various possible development of re- creational fishing. The conceptual framework of this study is based on a non- marketing method - Contingent Valuation Method (CVM) - to analyze collected data. The method has estimated the economical value of Hsiao-Liu-Chiu Island for future recreation activities with the willingness-to-pay (WTP) among the visiting tourists. A proper managerial and administrative system is also suggested in order to bring optimal performance in terms of economical value and resource application for the island's fishermen and tourists. According to the data collected: 70% of tourists are willingly to participate sport fishing; 90% would like to try recreational cage. And under CVM estimation, the WTP for sport fishing is about NT$896 per person, and NT$738 per person for recreational cage. Considering the total annual tourist population visiting Hsiao-Liu- Chiu Island, sport fishing may generates about NT$93,000,000 economical value annually, and about NT$98,000,000 for recreational cage. At the end, this research also provide suggestions on related management strategies and directions for the fishermen, cage owners, and local fishery organization