This study describes the biological importance of Guajará Bay (Belém, Pará, Brazil) for fish fauna and presents a diagnosis of water quality in the main channel and creeks, using the icthyofauna as an ecological indicator. A total of 567 individuals from 40 species were identified. About 58% of these use Guajará Bay as a nursery ground, 49 and 81% use the bay as a breeding and feeding ground, respectively. There were no significant differences between environments as measured by the diversity index; however, fish relative abundance (catch per unit of effort) was greater in the creeks than in the main channel. A significant difference was detected in the fish fauna inhabiting the main channel compared with the creeks. In the main channel, icthyofauna significantly differed during December relative to other months.