Rock lobster quotas will be able to be rolled over into the next quota year in a bid to support fishers impacted by market shutdown in China.
Orders of Tasmanian rock lobster and abalone into China have been cancelled due to the outbreak of coronavirus.
China makes up 80 per cent of the state's rock lobster exports.
Primary Industries Minister Guy Barnett announced the quota extension on Wednesday.
"This means fishers who have not caught the permitted amount due to the sudden market changes will be able to add this shortfall to the amount they can catch next quota year, which starts March 1," Mr Barnett said.
"This will avoid any drastic measures by the fishers to continue fishing when there is no market.
"The government has also approved the payment of annual fees and levies by installment, to help relieve immediate pressure."
Financial counseling is also available through Rural Business Tasmania.
Tasmanian Rock Lobster Fisherman's Association executive officer John Sansom said the measures would provide relief to fishers in the short-term.
"My members were really concerned about the fact that the season finished in four to six weeks time and they would be caught and left with huge financial losses. That has prevented that in the short-term," Mr Sansom said.
"There's been a complete and utter [market] failure."
The government said its trade unit would work with industry to explore new markets and expand existing markets.
But Mr Sansom said no other market compared to the Chinese market.
"We can't go round devaluing the fishery by going to markets that don't pay the best price," he said.
Tasmanian Seafood Industry Council chief executive Julian Harrington said the market shutdown in China posed different concerns for both the rock lobster and abalone sectors.
"There is an option of canning abalone, there is a canned abalone market that will allow a lot longer shelf life, but it is a lower valued product," Mr Harrington said.
Mr Harrington said the reality was the Chinese market was very lucrative.
"From TSIC's point of view, there will be a lot of fisherman who are our members who will go through some significant financial hardship over the coming weeks, months, however long this virus persists," he said.
Mr Harrington said the cancelling of organised tourism out of China would impact Tasmanian seafood domestically.
"Seafood locally, in the Sydney and Melbourne markets in particular, to tourists is a significant part of the Tasmanian seafood industry," he said.
"We will wait to see what impact tourism into Australia may have on those markets in these weeks.
"When people sell lobsters off the wharf just trying to break even there's certainly some issues going on."