Illex argentinus mainly distributed in the southwest Atlantic Ocean is one of the important economic cephalopod in the world, and also is one of the important fishing targets by China's mainland and Taiwan squid jigging vessels. Its development and resource utilization have attracted us. Therefore, this study focused on considering biological, economic, social goals, aiming to point out the optimum exploitation strategy of I.argentinus resources in the southwest Atlantic. Based on the catch data from Chinese mainland, Taiwan province of China and the Falkland Islands during 2001-2010, the biological economic model of Gordon - Schaefer is used to analyze the exploitation strategy of I.argentinus in the southwest Atlantic and the 13 kinds of fishing strategy in the short (1-5 years), medium (10 years) and long-term (20 years) periods are simulated. The results suggest that plans 8 and 11 with fishing efforts of 301 400 times and 307 500 times, respectively, will not pose a threat to the squid resources, but will produce the best social benefits and economic benefits. Therefore, plans 8 and 11 can be used as the optimal fishing strategy for managing I.argentinus population in the southwest Atlantic.