Fisheries Recovery Act of 2001

Requires a fishery management plan to close an area to a gear or practice that has been shown to adversely affect essential fish habitat unless the Regional Fishery Management Council (council) determines that closure is not necessary and the Secretary finds that the gear or practice will have a minimal adverse impact on habitat and minimal bycatch.

Requires observers on commercial fishing vessels to collect data necessary for the conservation and management of the fishery, subject to specified requirements Modifies: (1) the definition of "overfishing" and "overfished" to include jeopardizing the ecological integrity and sustainability of marine ecosystems; (2) conservation and management measure requirements; and (3) fishery management plan requirements to add ecosystem considerations. Requires each fishery management plan to have a fishery impact statement.

Directs the Secretary to develop at least one pilot fisheries ecosystem plan. Requires each council to prepare and submit to the Secretary a Fisheries Ecosystem Plan for each major marine ecosystem within its jurisdiction.

Reauthorizes appropriations to carry out the Act.

Amends the Saltonstall-Kennedy Act to earmark specified funds for direct industry assistance grants and for activities of the National Marine Fisheries Service that are directly related to implementation of the Magnuson Act.