In order to manage and rebuild fishery resources, the fishing effort should be controlled effectively. Especially in the setting up of the proper level of fishing efforts, economic standards as well as biological standards must be carefully considered to promote the sustainable and economically viable development of fisheries. This study is aimed to estimate optimal fishing effort of giant octopus by combo fishing which uses longline in Gangwon with statistical data. The result showed that current fishing effort is 28% higher than EMEY. Unit fishing cost for each voyage will be 27% lower and unit fishing profit will be 17% higher than the current situation when the fishing effort meets EMEY. Although current fishing effort is similar to the EMSY, current catching is 16% higher than MSY and 22% higher than MEY.