The Gulf of Suez is the most productive fishing ground along the Egyptian sector of Red Sea, where more than 64% of Egyptian Red Sea fish production was harvested. This paper reviews current and proposed regional aquaculture status and describes the process of feasibility of aquaculture projects in the Red Sea Governorate as a case study. The project data were collected and analyzed in this area. The results indicate that the project has a great value of Internal Rate of Return (IRR) of 30.2%, this means that the project is acceptable. Also, the Net Present Value (NPV) of thousand LE 8.58 is greater than zero, which reflects the same result as the IRR. On the other hand, this project is sensitive to decrease the revenue by 5% value, and more sensitive to increase the production cost by 20% value.