[3][4] The holiday marks the end of the toothfish (Dissostichus, also called Chilean sea bass) fishing season.

[9][6][10] The reception includes a quiz,[6] a toast, spin the bottle, and a menu featuring many dishes made with toothfish.

[6] The holiday was created to show the importance of the Patagonian toothfish (Dissostichus eleginoides) fishery and to spotlight the sustainable fishing practices of the industry in the territory.

[6][5][7] The holiday dates back to at least 2012, when it was called "Toothfish (end of season) Day" and took place on 14 September.

[4] It remained under that name and stayed in mid-September[13] until 2015 when it was instituted as simply Toothfish Day and moved to 4 September.