The provincial government says the certification from the Marine Stewardship Council is the result of fishermen, processors and First Nations in P.E.I. working together.
The government says the certification will help open up new markets for Island lobster.
The council says three main criteria were examined as part of the independent assessment process, including the status of the fish stock, the impact of the fishery on the marine ecosystem and the fishery's management system.
The P.E.I. government says the lobster fishery generates more than $200 million for the province's economy each year.
It says fishermen landed more than 28 million pounds of lobster last year, which was an all-time high.