Fishes are important pools of nitrogen (N) and phosphorus (P), and they have important direct and indirect effects on cycling of these potentially limiting nutrients in lakes. We used a model of fish bioenergetics coupled to a mass balance model of fish N and P budgets to investigate the stoichiometric interactions among fishes, their food, and the nutrient recycling that results from this predator-prey interaction. We tested the hypothesis that the N:P ratios in fish excretion (supply ratios) are high but potentially variable because of fishes' high P requirement and the likelihood of P limitation of fish growth. A survey of 186 cases representing 18 fish species demonstrated that limitation of fish growth due to availability of P in food was exceedingly rare in natural ecosystems. Fish growth rates were energy limited in almost all systems. Fish grew at an average of 26% of the maximum potential rate determined from bioenergetics. As a result, the predicted N:P supply ratio from fish excretion was low and relatively constant (the median mass ratio for piscivores was 6.1, and 13.1 for all other fishes). Excretion rates for N and P by fishes were predictable from body size, food nutrient concentration, and environmental temperature. Nutrient recycling by fishes will tend to alleviate P limitation of phytoplankton growth, but the importance of this effect will be directly proportional to the magnitude of nutrient regeneration rates from fishes relative to other sources available to phytoplankton.