Global catches of marine fishery resources declined during the last decades; however, there has been a trend of increasing exploitation of deepwater resources that are especially vulnerable to depletion. Such a tendency was noticeable in Pacific Latin América, too. In Costa Rica, the vast majority of the commercial fishing activities are concentrated on the Pacific coast. The target species for the deepwater fishery in Costa Rica are the two pandalids Heterocarpus affinis and H. vicarius as well as Solenocera agassizii, the latter one being the most important in terms of annual landings. Here we compile the information available from Costa Rica about each of the three target species. Furthermore, we describe research activities related to the Costa Rican deepwater resources and present available data about by-catch and discards in this fishery. Finally, the current situation of the administration and management of these resources in Costa Rica is described. Strengthening collaboration between governmental agencies, the fishery sector, non-governmental organizations, and the academic sector is recommended to avoid an uncontrolled overfishing of these valuable deepwater resources along the Pacific coast of Costa Rica.