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Of this total allowable catch the EU and Norway claim 90%, leaving Russia, Iceland and the Faroe Islands with just 10%.
CNN: Iceland fishing for deal on EU quotas
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MPs were holding the debate ahead of the Council of EU fisheries minister who will set the so-called "Total Allowable Catch" (TAC) that fishermen are allowed to fish in the coming year.
BBC: Fisheries debate
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He said the decision by the EU and Norway to take more than 90% of the total allowable catch recommended by scientists was "totally unjustified" and amounted to a decision to overfish mackerel next year.
BBC: Scottish fishermen condemn Iceland mackerel quota move