Independencia Bay can be considered as one of the most productive invertebratc fishing grounds worldwide. One of the most important exploited species is the scallop (Argopecten purpuratus) with strong catching fluctuations related to El Nino and La Nina events and to inadequate Management strategies. During strong warming periods annual landings reach up to 50000 t in an area of about 150 km**2 and during cold years they remain around 500 to 1000 t. This study analyses the changes in scallop landings at Independencia Bay observed during the last two decades and discusses the main factors affecting the scallop proliferations during the EI Nino events. In this way data on landings, sea surface temperature and those related to growth, reproduction, predation, mean density and oxygen concentration from published and unpublished Papers are used. The relationship between annual catches and average water temperature over the preceding reproductive period of the scallop over the past 20 year's period, showed that scallop production is affected positively only with strong EI Nino such as those of 1983 and 1998. Our review showed that the scallop stock proliferation can be traced to the combined effect of (1) an increase in reproductive output through an acceleration of gonad maturation and a higher spawning frequency; (2) a shortening of the larval period and an increase in larval survival; (3) an increase in the individual growth performance; (4) an increase in the juvenile and adult survival through reduction of predator biomass; (5) an increase in carrying capacity of the scallop banks due to elevated oxygen levels.