This paper stresses the importance of shark fisheries at the site of Gramalote, an early Initial Period (1500–1200/1100 cal BC) fishing settlement, which has yielded the largest amount of shark remains ever reported along the coast of Peru. The article discusses fishing techniques utilized to capture such dangerous fish with limited technology. Moreover, it highlights the economic importance of this abundant source of marine food for small-scale residential settlements along the north coast of Peru. Based on current evidence, sharks may have played an important role in the domestic and community-level rituals at Gramalote. Due to the abundance of shark remains, it is suggested that the surplus of its flesh was processed in storage facilities at family level and later was traded with residential settlements for products not available on the coast. Finally, this article suggests that, during the Late Preceramic and Initial Periods, a subsistence pattern may have emerged: while the Central Coast and the Norte Chico regions relied on anchovy as one of the most important fish species for subsistence and other needs, on the north coast of Peru sharks may have played a pivotal role for daily subsistence and economic transactions at the household level.