The community management of pirarucu fish (Arapaima gigas) is carried out by riverine communities of the Mamirauá and Amanã Reserves since 1999. Since the beginning of management, the population has showed positive signs of recovery of stocks. The commercialization of production, on the other hand, has been one of the main bottlenecks of the process. Thus, this study aimed to identify, from technical and local viewpoints, the main problems faced in the commercialization of managed pirarucu, besides supporting strategies to mitigate these problems. The methods employed were documental research, discussions with communities in meetings, as well as technical assistance during the 2004 and 2005 fish harvests. It was observed that the main challenges were low prices, difficulty to reach favorable markets, as well as a low level of community involvement in the negotiations and sales processes. After new commercial strategies developed by technicians and communities, there was a decrease of problems in the area, development of new market strategies, and more community participation in the process. This study, thus suggests that the best way to deal with the challenges of the market, and consequently, with conservation of the species is to promote mechanisms to facilitate community participation in the commercial process.