The interaction of icefish and krill in the South Georgia area has been analysed on the basis of the trawling, acoustic and juvenile fish surveys carried out by AtlantNIRO during 1986-2002 and the data of the national fishery. It is demonstrated that ?.gunnari both at the early development stages and as adults utilize the pelagic forage resource, the bulk of which is constituted by krill. At the same time krill content in the food of different length groups varied. The effect of krill on icefish growth and spatial distribution at various development stages is discussed. It is shown that near-bottom-pelagic distribution pattern of fish is sufficiently stipulated by the impact of krill distribution, being the preferred food item, on icefish diurnal vertical migrations. The comparison analysis of spatial distribution of near-bottom and pelagic fish aggregations density relative to krill distribution is presented.