Management of fisheries is a vital component of marine conservation in Australia and globally. Effective fisheries management strategies require the interests of multiple stakeholders to be balanced against important conservation outcomes. This study investigates the potential for partially protected zones to contribute to this balance, and provide a “conservation middle ground”. Conservation Park Zones (CPZs) are zones within the Great Barrier Reef Marine Park where partial protection is provided through restrictions on the type and amount of fishing gear permitted. Using a combination of survey techniques, we conducted surveys of fish assemblages in CPZs, as well no-take marine reserves, and open fishing zones for comparison. Here, we examine trends in fish assemblages in CPZs, and assess their utility as a fisheries and conservation management tool. Focus is given to key fisheries targets, and the ability of CPZs to protect key ecological processes such as predation and herbivory. Our initial findings suggest that partially protected zones have the potential to be an effective compromise between no-take marine reserves and open fishing areas. Ongoing research in this field will provide much needed insight into the ability for partially protected areas to enable conservation outcomes and support fisheries management on coral reefs.