The ocean leatherjacket (Nelusetta ayraudi) has a long history of commercial exploitation in New South Wales, Australia. Records of reported landings indicate that substantial peaks of between 600 and 900 tonnes per annum occurred during the 1920s and again during the 1950s. These peaks were followed by large declines, which suggest that this species is vulnerable to over-exploitation. In recent years from 2000/01 to 2006/07, annual commercial landings of ocean leatherjackets using oceanic demersal fish traps and demersal otter trawl have increased from 134 to 430 tonnes. Between 2003 and 2005 ocean leatherjackets in commercial landings ranged approximately between 22 and 65 cm in total length. Ocean leatherjackets were fully recruited to the fishery at two years of age, with the majority of the catch (83%) aged either two or three years. The instantaneous total mortality rate was estimated from an age-based catch curve as 1.1. Natural mortality was estimated as approximately 0.5, based on a maximum age of 6 years. Yield per recruit indicated that under current levels of exploitation the yield per recruit would be maximized at a length at first harvest of 35 cm in total length.