Lake Victoria is an international waterbody that offers the riparian communities a large number of extremely important environmental services. Over the past three decades or so, the lake has come under increasing and considerable pressure from a variety of interlinked human activities such as overfishing, species introductions, industrial pollution, eutrophication, and sedimentation. In this paper we examine the root causes for overfishing and pollution in Lake Victoria and give possible policy options that can help remediate or mitigate the environmental degradation.