This paper presents some of the preliminary results and findings of an ongoing study, jointly conducted by the Southeast Asian Fisheries Dev't Center (SEAFDEC AQD) and Philippine Institute for Development Studies (PIDS), which assesses the current state of aquaculture in Laguna de Bay. the study uses primary and secondary data. The primary data were gathered through interviews with key informants and a cross-section survey of fishpen and fishcage operators and their operations in Laguna de Bay conducted in 2007. The secondary data were gathered from the published statistical indices of institutional sources and other relevant literature. The results of the study indicate that aquaculture in Laguna de Bay is a vibrant industry that includes not only fishpen and fishcage operators but also various participants in its input and product markets. furthermore, they show that aquaculture contributes significantly to fish production in the lake as well as to national aquaculture and fisheries production.