During the Second World War, Fisherman's Bastion suffered serious damage in several places. Fortunately, however, the structure had by that time become one of the most emblematic buildings of Budapest, which meant that its restoration could not be put off for long. Overseen by architect László Bors, work on the Bastion was completed in 1953. Following 1990, the city was able to start work on the Bastion again, and set out to completely refurbish the structure. Sadly, however, this work was suspended in 1992. To ensure that the structure would not fall into an even greater state of disrepair, the District 1 Local Government decided in 1994 to continue work on the Fisherman's Bastion, relying on its own resources. The following elements were renovated in this phase: the southern bastion, the Schulek Steps, the southern steps, the buttress wall behind the shrine of the Matthias Church, the pavement surrounding the statue of Saint Stephen and the statues of the six soldiers on the southern steps.
The ribbon cutting for the newly renovated structure took place in 2003. Fisherman's Bastion, as part of the Buda Castle District, has been a World Heritage site since 1987.
In December 2006, the District 1 Local Government announced a public tender for the renovation and utilisation of the northern sections of the Fisherman's Bastion, which is owned by the District.