The Allegheny Reservoir is managed primarily for Walleye fishing but there is also healthy populations of Northern Pike, Muskellunge, Smallmouth Bass, Brown Trout, Yellow Perch, and White Bass. The Pennsylvania state record for walleye and northern pike, and the New York state record for walleye and channel catfish have come from Allegheny Reservoir. Fishery habitat management programs are currently targeting Largemouth Bass, Crappie, Bluegill and Catfish in hopes of improving the production of these species. Some of the habitat projects taking place around the reservoir include sinking structures like porcupine cribs, catfish and bass nesting boxes and Christmas tree reefs in the reservoir. Many of these structures were placed around the Red Bridge area.
Fishery management includes stocking fish.
There are no reciprocal fishing agreements. Licenses are required from the appropriate agency for each portion of the lake you wish to fish.