Anchoveta(Engraulis ringens) is a small pelagic fish. As an important commercial fish,fishing of this species has been the worlds largest single fish fishery. However,the catch of anchoveta shows big annual differences. The mechanisms of this yield and Peru upwelling where the fish habitat can be summarized by these five aspects: (1) low latitude geographical position of Peru upwelling; (2) suitable water temperature structure; (3) low dissolved oxygen in ocean; (4) high energy transfer efficiency in food web; (5) complex changes of oceanic environment factors. Oceanic environment has significant effects on the anchoveta fishery biology in many ways. In addition,the regime shift of ocean ecosystem relating to the climate can also influence the anchoveta population dynamics. We suggest that the future studies should highlight the regime shifts with the long temporal scale. At the same time,we should focus on integrating the environment changes,fishing factors,population dynamics and their internal connecting links so that we can build the valid stock assessment or forecast model to give theoretical basis for the sustainable utilization and management of anchoveta.