This chapter examines the connection between vaquita conservation and the well-being of fishing communities in the Upper Gulf of California. The vaquita, the world’s most endangered marine mammal, faces imminent extinction due to gillnet bycatch. Despite repeated warnings and available alternatives, successive administrations have failed to address the root causes, implementing ineffective measures that have led to the species’ drastic decline. The local economy and social fabric depend on fishing, making conservation efforts difficult to integrate with community well-being due to decades of poor fisheries governance and corruption. This chapter reviews past conservation strategies and proposes a multidimensional approach based on three foundational concepts and a multispecies perspective. Through ethnographic cases, it illustrates how vaquita conservation depends on improving the material, relational, and subjective well-being of communities, strengthening fishing cooperatives, and building local governance.