In the NW Mediterranean Sea, anchovy (Engraulis encrasicolus) and sardine (Sardina pilchardus) are the most important small pelagic fish in terms of biomass and commercial interest. Round sardinella (Sardinella aurita) and Sprat (Sprattus sprattus) are also present in this region. This paper provides a general insight into the ecology of these species through a revision of the information available in an environmental context and in relation to exploitation features. Spawning habitats of the two main species, anchovy and sardine, are clearly differentiated based on water mass characteristics reducing the overlapping between their early developmental stages. Larval distribution is also related to major productivity mechanisms of the respective spawning seasons. In spite of the different environmental regimes in which larvae of these species develop, growth rates are fairly similar. Trophic modeling highlights the important ecological role of small pelagic fish in North Western Mediterranean ecosystems. This review points out the gaps in knowledge necessary to understand the dynamics of small pelagic fish in the region and to progress towards a precautionary and adaptive management.