Monthly information on the size composition of golden crab (Chaceon chilensis) catches compiled while monitoring the artisanal fishery (July 2005 through May 2006) is analyzed in order to evaluate the growth parameters, natural mortality, and biological reference points in male specimens, the basis of the fishery. Average longevity was found to be 20 years and natural mortality around M = 0.27. The critical size was determined to be around 110 mm carapace length (Lc), slightly lower than that of the first catch (114 mm Lc). According to this analysis, individuals between 4 and 10 years of age are exploited. A balance analysis revealed that 82% of the population is virginal, as reflected in an average size-at-catch of about 128 mm Lc. Tripling the current level of landings would lead to an eventual reduction to a limit of 40% of the original population; this would result in an average catch size of 118 mm Lc. Finally, several biological reference points are recommended for guaranteeing sustainable exploitation over time.