Abstract This study used the Gordon-Schaefer model to do resource economic analysis on the South Pacific albacore fishery in 1967-2007 . Evaluated the equilibrium standard of open access model and present value maximization model, and then compared them with the real data. The results indicates that the fishing yield, resource stock, effort and catch-per-unit-effort of south Pacific albacore is close to the equilibrium level of present value maximization model after year 2002, which means the South Pacific albacore fishing is under appropriate development. Following that, this paper did sensitivity analysis to understand the impact of the changed parameters on stock size and effort. Finally, using the simulation analysis on open access model and present value maximization model. In open access model, the result shows that resources will face extinction crisis if the fishery is not controlled well. In present value maximization model, the albacore fishery would sustainable management. This result is valuable for the fishery management authorities to maintain the development of fishery and cherishing ocean resources at the same time.