Antarctic bioprospection is an activity that becomes more and more important with each passing day due to its geopolitical implications. Also, because should it be successful, it could generate massive profits for those performing it. In this context, the purpose of this article is to make a review of how the legal regulation of the Antarctic bioprospection has been performed and also about the beginning of a certain emerging institutionality for its regulation. The methodology used is based on a document review of the main academic proposals and the documents of the Antarctic Treaty System (ATS), as well as of the databases that record the antarctic bioprospection activities. From the review performed we conclude that certain proposals to regulate Antarctic bioprospection have been accepted in some measure and have been implemented by entities related to the ATS, but not fully part of it, which creates a sui generis institutionality. This implies that the ATS as such still has to fully address the issues related to this topic.