This work aims to present an historical review of the ecosystem services provided by anadromous fish (i.e., species that migrate from the sea to the river to spawn) throughout Human time, as well as of the main related threats, focusing on the Iberian Peninsula region. Anadromous fish provide important provision, cultural, regulatory and supporting ecosystem services across their distribution range and have been extensively exploited by humans since prehistoric times. In the Iberian Peninsula, sea lamprey, allis and twaite shads, sea trout, Atlantic salmon and European sturgeon were once abundantly present in several river basins covering what is now Portuguese and Spanish territory. These species have suffered a severe decline across their distribution range, mainly due to habitat loss and overexploitation. Considered regal delicacies, these fishes were once a statement on the tables of the highest social classes, a much appreciated bounty for the poorer population and are still an important part of the local gastronomy and economy. Such high economic and cultural interest encouraged intensive fishing. Currently, management efforts are being implemented, pairing habitat rehabilitation (e.g., construction of fish passes in obstacles to migration such as weirs and dams) with sustainable fisheries. Considering the present climate change scenario, these species are bound to endure increased pressures, demanding novel management approaches to ensure population numbers that are able to secure their sustainable exploitation.