In this study, the fundamental model of fish dynamic model- Gordon Schaefer Model is used to discuss the equilibrium levels for the Pacific Bluefin Tuna fishery of open access and dynamic optimization, and then to do the sensitivity analysis. By comparing the historical record of catch data with the equilibrium values of open access and dynamic optimization, we could know that the fish stocks and harvests of Pacific Bluefin Tuna are not in the condition of dynamic optimization. In order to ensure the sustainable development of Pacific Bluefin Tuna fishery, we have to take effective measures to preserve and manage the Pacific Bluefin Tuna resources. Finally, this study simulates and analyses the various management scenarios of the Pacific Bluefin Tuna fishery. The results of simulative analysis reveal that the optimal management of the Pacific Bluefin Tuna fishery would imply significant reallocation of the fishing gear shares. Furthermore, the net present value could increase substantially by reallocating the fishing gear shares.