This study aimed to explore the growth heterogeneity and evaluate resource development status of Sebastes schlegelii in three artificial reef areas (Changdao reef area, Xixiakou reef area, and Qiansandao reef area) in coastal Shandong from 2017 to 2021 based on ocean environment and resource survey data. The ELEFAN method of Bootstrap was used to explore the growth characteristics of S. schlegelii, the Length-Converted Catch Curve was used to explore the death characteristics of S. schlegelii, the linear mixed-effects model was used to study the spatial and temporal heterogeneity of body length-weight relationship of S. schlegelii, and the Beverton–Holt model and exploitation rate were used to explore the resource utilization of S. schlegelii. The results showed that the growth condition factor (a) of S. schlegelii in the Qiansandao reef area was significantly higher than that in the Xixiakou and Changdao reef areas. The asymptotic body length and asymptotic body weight of S. schlegelii in the Qiansandao reef area were the largest, followed by those of the Xixiakou and Changdao reef area. The total death coefficient and natural death coefficient of the Changdao reef area were 0.87 and 0.44, respectively, which were higher than those of the Xixiakou and Qiansandao reef area; the parameters a and b obtained using the linear mixed-effect model ranged from 1.48×10^–5 to 5.92×10^–5 and 2.85 to 3.13, respectively. With the same body length conditions, the individual quality of S. schlegelii in the spring and autumn of 2020 was the highest in the Qiansandao reef area, followed by the winter of 2021, 2018, and 2017 in the Xixiakou reef area; the summer of 2019 in the Changdao reef area was the lowest. The exploitation rate conformed to the mild development indicators of the Gulland theory, and the Beverton–Holt model showed that the fishing current points of the three reef areas were all located in the optimum yield area, but close to the edge of the optimum yield area; thus, the fishing intensity should be controlled.