The fishery quota management system is an output control fishery management mode based on ecological characteristics of the fishery resource under the historical context of overfishing-caused fishery crises and the failure of traditional input control management. This system depends on total allowable catch and has been successfully implemented in Iceland, New Zealand and other countries. Chinese researchers hold different views on the legal characteristics of the quota system, but the majority identify the characteristics as quasi-property. Based on the biological nature of the resources and substance of the system, international and domestic quota systems can achieve substantial results only when they strictly follow the joint obligation of remaining below the total allowable catch and the obligation shall be performed by limited access, strengthening supervision and other means to realize sustainable use.