Marine heatwaves are increasingly affecting marine ecosystems, with cascading impacts on coastal economies, communities, and food systems. Studies of heatwaves provide crucial insights into potential ecosystem shifts under future climate change and put fisheries social-ecological systems through "stress tests" that expose both vulnerabilities and resilience. The 2014-16 Northeast Pacific heatwave was the strongest and longest marine heatwave on record and resulted in profound ecological changes that impacted fisheries, fisheries management, and human livelihoods. Here, we synthesize the impacts of the 2014-2016 marine heatwave on US and Canada West Coast fisheries and extract key lessons for preparing global fisheries science, management, and industries for the future. We set the stage with a brief review of the impacts of the heatwave on marine ecosystems and the first systematic analysis of the economic | 653 FREE et al. 1. INTRODUCTION 2. THE 2014-2016 MARINE HEATWAVE 3. SOCIOECONOMIC IMPACTS OF THE HEATWAVE ON FISHERIES 4. CASE STUDIES 4.1. Pacific cod 4.2. Kelp, urchin, abalone 4.3. Chinook salmon 4.4. Dungeness crab 4.5. Pacific sardine and northern anchovy 4.6. Pacific bluefin tuna 4.7. California market squid 4.8. Shrimp species 4.9. Bocaccio rockfish 4.10. Shortbelly rockfish 5. LESSONS LEARNED 5.1. Lessons for improving monitoring 5.2. Lessons for improving management 5.3. Lessons for improving adaptive capacity of fishing communities 5.4. Lessons for and from other regions 6. CONCLUSIONS