The article examines the components of the current situation of Ukrainian fishery industry, its place in the national economy in the sphere of food security. The attention is paid to the role of state regulation of the fishing industry, which provides the laws and regulations for its functioning in the market economy. State regulation in market conditions should be carried out through a system of tariffs, tax, securities, loans, grants, state guarantees to make effective use of fishery water bodies. From the point of view of Ukrainian fishing fleet development, the loss of its capacity in the period 1991 – 2014 was emphasized. The complexity of its recovery was projected. The research results suggest an insufficient consumption of fish and fish products by the population of the state in comparison with rational nutritional standards; filling the domestic market by imported products of dubious quality; the disappearance of a significant number of water bodies; necessity to improve the use of inland water resources. Rational use of inland waters should be based on the experience of the world’s advanced technologies of fish production and management industry. At the same time, it is necessary to develop ecological measures to improve the conditions of the inland waters. In order to ensure food security at the national level it is expected to increase fish production volumes in the priority areas of fisheries due to changes in patterns of interaction between state institutions and business organizations. It gives an opportunity to implement the following components: the governmental stimulation of the fish industry development; balance of economic, legal, technological and environmental criteria reference of fish keeping complex; synergy of science and practice: the subordination of research and development problems with practical principles and objectives of fish production.