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This study was carried out to identify factors that influence choice of fishing location and carry out profitability analysis of Chilimira and Gillnet in different fishing locations. A survey using semi-structured questionnaire was administered to 99 Gillnet and 101 Chilimira fishers in Nankumba Peninsula in Mangochi District. The logit model was used to determine the factors influencing choice of fishing location among the fishers. The study showed that 92.1% of Chilimira fishers are operating in offshore areas while 69.7% Gillnet fishers are operating in inshore areas. Chilimira offshore fishers have higher daily average gross margins than their inshore counterparts and Gillnet fishers. However, they incurred more operating costs than the inshore Chilimira and Gillnet fishers. Furthermore, they find their fishing occupation more rewarding as evidenced by the higher returns to labour. The factors that influenced fisher’s choice of fishing location were Age of the fisher, type of fishing vessel and gear, possession of motor sail engine and access to information about previous day’s catch rates. Finally the study concluded that artisanal fishers in Malawi use different criteria in deciding where to fish. The criterion involves a complex interaction of biological, technological, personal and economical factors and time. However, the resource constrained artisanal fisher will need support to enable him exploit offshore fishery resources. Consequently the study recommends that appropriate fishery development interventions by the government and other stakeholders must adapt to the economics and lifestyles driving the artisanal fishers to fish in particular locations and therefore, build on this foundation to improve the existing fishing technologies.