The article describes the key elements of a model simulating the dynamics of the anchoveta (Engraulis ringens) in the Peruvian upwelling system (4 degrees to 14 degrees South). This model, based on coupled differential equations, is parametrized mainly using empirical data and functional relationships presented in two volumes issued by ICLARM in 1987 and 1989, and may thus be viewed as test of the hypotheses presented therein. Results to date suggest that present knowledge of mechanisms controlling the anchoveta stock is essentially consistent, and sufficient to build a model reflecting essential features of the stock biomass and recruitment dynamics.