The Sundarban Mangrove Forest (SMF) is an intricate ecosystem containing the most varied and profuse natural resources of Bangladesh. This study presents empirical research, based on primary and secondary data, regarding the social-ecological system (SES), social-ecological dynamics, different stakeholders and relevant management policies of small-scale or artisanal fisheries such as the SMF; showing how, despite extensive diversification, the livelihood activities of the artisanal fishers in the SMF all depend on the forest itself. Regardless of this critical importance of mangroves, however, deforestation continues due to immature death of mangroves, illegal logging, increased salinity, natural disasters and significant household consumption of mangrove wood by local people. As the mangroves are destroyed fish stocks, and other fishery resources are reduced, leading to moves of desperation among those whose livelihood has traditionally been fishing. The present study also considers several risks and shock factors in the fishers' livelihood: attacks by wild animals (especially tigers) and local bandits, illness, natural disasters, river bank erosion, and the cost of paying off corrupt officials. The artisanal fishers of the SMF have adopted different strategies for coping with these problems: developing partnerships, violating the fisheries management laws and regulations, migrating, placing greater responsibility on women, and bartering fishing knowledge and information. This study shows how the social component (human), the ecological component (mangrove resources) and the interphase aspects (local ecological knowledge, stakeholder's interest, and money lenders or middle man roles) of the SMF as an SES are linked in mutual interaction. It furthermore considers how the social-ecological dynamics of the SMF have negative impacts on artisanal fishermen's livelihoods. Hence there is an urgency to update existing policies and management issues for the sustainable utilization of the SMF resources, eventually contributing to the improvement of the artisanal fishers' livelihoods.