This article examines the effectiveness of feedback control as a management policy on a generalist predator–prey system with prey harvesting. We discuss the result of implementing feedback control with respect to prey and predator separately. This paper also depicts the effect of exploitations up to maximum sustainable yield (MSY). We observe that with a constant fishing effort MSY policy is a sustainable management policy to protect both the species. However, further increase of fishing effort may cause the extinction of prey species. But considering feedback control of fishing effort may restrict the extinction of prey species. When fishing effort is controlled in terms of prey density, the extinction of prey population can be avoided. In this case, there may be coexistences of prey, predator and fishery or extinction of fishery. But when fishing effort is controlled by predator density, it is difficult to manage the coexistences of prey, predator and fishery.