Under the agreement on catch limits in 2014, there will be no cuts to the number of days boats may go to sea. Reductions to quotas of monkfish will not be as deep as planned and proposed reductions in west coast whiting have been abandoned.
Bertie Armstrong, chief executive of the Scottish Fishermen's Federation, said: "Freezing the effort at its current level was entirely the common-sense approach to take."
He added: "There is no doubt the final reductions agreed today for some species will undoubtedly cause further difficulties for our fishing fleet.
Scottish Fisheries Minister Richard Lochhead said the talks had secured important flexibility for the industry's future.