Brexit poses significant challenges and uncertainties for the future governance of fisheries policy currently managed by the European Union. This article explores institutional changes in the governance of the fishing industry after the United Kingdom’s withdrawal from the EU. The paper considers the possible consequences of leaving the European single market in related to fisheries. The author explores fisheries management in three non-EU countries (Iceland, Norway, and the Faroe Islands) in order to identify the specifics of this industry in the independent coastal states. Possible scenarios of fisheries governance after Brexit have been highlighted. The transnational nature of fisheries policy is the limitation for Great Britain in managing its own exclusive economic zone after Brexit. The resumption of fish wars is portrayed as one of the risks of Brexit. The main challenge for the UK in managing fisheries will be a redistribution of competencies between devolved governments.