Fishing management proposals are now open for consultation in the four proposed management zones - West Coast, Spencer Gulf, Gulf St Vincent/Kangaroo Island and South East.
Minister for Primary Industries and Regional Development Tim Whetstone said the release of the first stage of information will assist licence holder decision-making.
"This new information will assist fishers decide whether they will exit the industry with dignity, or stay and invest in the fishery.
"We have already had 31 commercial fishers apply and with funding for only 150 voluntary surrender of licences, it is first in-best dressed," Mr Whetstone said.
"This is another step towards the Marshall Liberal Government's historic $24 million reform package announced last month, aimed at improving the long-term sustainability of fish stocks in South Australia and increasing the profitability of fishing businesses.
"We are taking action to reverse the decline in all fishing sectors experienced under 16 years of Labor by tackling a major problem in our waters, too many fishers and too few fish."
Mr Whetstone said the management proposals were the result of extensive consultation with the industry and have been further refined using expert advice and the latest in scientific information.
"This is a once in a lifetime reform of the fishery, but I want to be clear to fishers; this will be the only buy out.
"We are offering a fair market price and the offer will close on November 13, 2020, unless it is fully subscribed earlier. If less than 150 licences are surrendered, the quota will be allocated among remaining fishers," he said.
For full details and to provide feedback, visit www.pir.sa.gov.au/fishingreform
Feedback is require on priority species under quota: initial assessment of the priority species (snapper, King George whiting, southern calamari or southern garfish). which will be managed by individual transferable quota, by region.
Catch: the indicative total allowable commercial catches for King George whiting, southern calamari and southern garfish.