An age-structured model was built to assess the lobster population, P. argus of the Yucatan Shelf. Catch, catch per unit of effort and individual mean weight series were used; natural mortality estimates and growth parameters of other fisheries were utilized for the parameterization of the model. Population size and exploitation rate for each fishing season were estimated and their dynamics given different management scenarios was analyzed Results indicated an increment in exploitation rate, starting from year 2000 with a decreasing trend on the biomass, which coincides with the entry of traps into this fishery, which have a high impact on mega-spawners. As a results of exploration of different management scenarios, biomass predictions were obtained, which shows a declining trend by the year 2006 in all the scenarios simulated, being more evident under the current level of exploitation, showing a level of recovery afterwards. The determinant factors that would favor biomass increase include: a) compliance with legal size; b) increase of the period of the closed season, and c) time reduction on the use of traps . Predictions by the year 2012 suggest benefits on the population size at low economic cost for the fishery if the best management scenario modeled was applied, since catches that would be obtained would be close to current context.