The management of fishing capacity—in both inland and marine fisheries—is a major policy concern in most countries in Southeast Asia. Excess capacity leads to a number of negative impacts, such as resource use conflicts, overfishing, environmental degradation, economic wastage, and security threats. This paper presents the results of a regional study that examined various approaches to managing excess fishing capacity in small-scale fisheries in Southeast Asia. More specifically, the paper presents an analysis of perceptions of stakeholders in Cambodia, Philippines and Thailand regarding preferred solutions to addressing excess capacity. The paper concludes with a discussion of policy guidance for addressing excess fishing capacity based on the stakeholder-preferred solutions.