Climate change continues to exert pressure on ocean ecosystems. The fisheries‐related responses, such as altered body growth, recruitment and spatial distribution of the targeted stock(s), have generally been reasonably well investigated. Nevertheless, there are still important knowledge gaps in how biophysical drivers impact stock productivity and thereby sustainable harvest levels. Considering this, we investigated 26 fish stocks in the Northeast Atlantic, a region characterized by accelerated climate change effects and a diverse set of fisheries. A novel, stepwise, Bayesian framework to quantify stock productivity was established to identify shared trends and project future patterns, aiming at determining essential baselines for adaptive fishery management in the face of climate change. Despite variation among large marine ecosystems and stocks, an overall declining trend in productivity over the past four decades was observed, especially in high‐latitude areas. These hindcast results were mainly attributed to higher temperatures posing negative effects on productivity, which was dependent on the stock's thermal preference. Contrastingly, the proxy for food availability – gross secondary production – exhibited less consistent impacts. In the forecast, the applied Shared Socio‐economic Pathways (SSPs) indicated that most stocks are likely to encounter adverse effects, with the worst cases expected to occur under SSP2‐4.5 in the 2050s, and under SSP5‐8.5 in the 2090s. Thus, this study generally not only supports earlier climate vulnerability assessments (‘scorings’) of experts but also provides evidence for revised directional effects under climate change, underlining the complexity of processes affecting stock productivity.