Before its preservation, Icacos cay was important for the extraction of limestone for use in the sugarcane industry and construction in Puerto Rico.

Management plans included the preservation of important bird nesting areas in some of the keys and the establishment of a marine wildlife refuge for the protection of endangered species such as green sea turtles and West Indian manatees.

[5][6] The reserve is considered today a prime eco-tourist destination where visitors can swim along coral reefs and visit the beaches located in some of the cays, particularly Icacos.

[7] Some of the marine ecosystems found within the reserve are coral reefs, sandy seashores, and extensive seagrass prairies which are important for sea turtles and manatees.

The spiny lobster (Panulirus argus) and the queen conch (Strombus gigas) are also important species for fishing.