Abstract-Modern processors widely use hardware prefetching to hide memory latency. While aggressive hardware prefetchers can improve performance significantly for some applications, they can limit the overall performance in highlyutilized multicore processors by saturating the offchip bandwidth and wasting last-level cache capacity. Co-executing applications can slowdown due to contention over these shared resources.This work introduces Adaptive Resource Efficient Prefetching (AREP) − a runtime framework that dynamically combines software prefetching and hardware prefetching to maximize throughput in highly utilized multicore processors. AREP achieves better performance by prefetching data in a resource efficient way − conserving offchip-bandwidth and last-level cache capacity with accurate prefetching and by applying cache-bypassing when possible. AREP dynamically explores a mix of hardware/software prefetching policies, then selects and applies the best performing policy. AREP is phase-aware and re-explores (at runtime) for the best prefetching policy at phase boundaries.A multitude of experiments with workload mixes and parallel applications on a modern high performance multicore show that AREP can increase throughput by up to 49% (8.1% on average). This is complemented by improved fairness, resulting in average quality of service above 94%.