The pelagic thresher shark, Alopias pelagicus, like most large sharks produces a low number of offspring (two embryos per litter). However, there is no accurate information on its population status. To improve the accuracy of population simulations, a stochastic stage-based birth-flow model was constructed to assess the stock status of the pelagic thresher in the north-western Pacific. Based on the best biological information available, its life history was represented as four stages: neonates, juveniles, subadults, and adults. Results indicated that, without mortality from fishing, the stock would clearly increase (mean annual population growth rate (λ) = 1.058 year^–1, 95% CI = 1.014–1.102 year^–1). When current fishing mortality was taken into account, a decrease in population was indicated (λ = 0.979 year^–1, 95% CI = 0.921–1.030 year^–1) with a projected reduction of 34.3% over 20 years. These results suggest that the stock is overexploited. Simulations using various management measures showed that the population will remain steady under these protection options. However, this species is extremely vulnerable to overexploitation and is especially sensitive at the juvenile and adult stages, implying that nursery closures or size limit management measures are urgently needed to ensure the sustainable utilisation of the stock.