This social study revisits the crucial issue of low and declining catch in Malampaya Sound, a 245 km2 estuary located along the northwestern part of the Municipality of Taytay, Province of Palawan. The Malampaya Sound, often dubbed as the “fish bowl of the Philippines,” houses three important ecosystems -mangroves, seagrass beds, and coral reefs - that serve as spawning and nursery grounds for fish and other aquatic life. These ecosystems are assessed in the study area. The methods used in the assessment include field observations, focused group discussions, key informant interviews, and household interviews. Results indicate that the overall perceived condition of its 802-hectare (ha) mangrove forest is fair due to on-going wood harvesting for charcoal making and house repair. Generally, its 211 ha seagrass bed is disturbed while around 1,632 ha of coral reefs are in poor condition. The rampant use of illegal and destructive fishing methods by non-resident fishers were perceived by respondents as the main cause of habitat destruction. While majority of local fishers use hook and line, fishing pressure in Malampaya Sound is critically high with a density of 23 fishers/km2. In effect, fishers are experiencing a 60-80% decrease in catch during the last three years. The challenge is to reverse the declining trend in fisheries productivity of the Sound's rich ecosystems. Sustainable harvesting of fishery resources and protection of coastal habitats are seen as critical programs along with countryside enterprise development involving support fund from government and private institutions.