Samples of the white shrimp, Metapenaeus, stebbingi, were collected from fish landings at Bardawil lagoon. Their length ranged from 4.6 - 10.2 cm. The estimated von Betalanffy growth parameters TL∞ and K of combined sex 10.8 cm and K = 0.7 y^-1, respectively. The values of the mortality rates (Z, M and F) and exploitation ratio computed using FiSAT-II software were 2.57y^-1, 1.05 y^-1 , 1.52 y^-1 and 0.59, respectively. The maximum economic yield (at E₁₀) was 0.607g, the exploitation level that maintains the biomass at 50% of fished (E₅₀) was 0.358. From the results it was concluded that proper management of the stock of M. stebbingi in Bardawil lagoon can be achieved by decreasing the current the exploitation rate (0.59) to 0.358 to maintain a sufficient spawning biomass through reducing the fishing effort or the number of fishing days or the number of fishing trips besides applying the closing fishing season for a suitable period.