Under new rules, Canada has the right to seize vessels outside the economic zone if it suspects illegal activity.
"Foreign overfishing by rogue ships and their owners is unacceptable to Canadians, to this government and to me as Prime Minister," Prime Minister Paul Martin said in a statement.
Regan also announced that the federal government will spend an additional $15 million to fight illegal fishing.
"It is our hope that harassing these international modern-day pirates on the sea with further boardings and inspections …will help keep them away from the [fish]."
Regan said the money will be used to expand patrols — from one vessel to three, for round-the-clock sea patrols and to step up boarding activities on foreign trawlers.
But Conservative leader Stephen Harper said the government's tough new approach to protecting the fishery is just playing politics before an election.
"I think this is a pre-election show and if they were serious about this as a policy they would have established it as a practice over the last several years," Harper said.
Regan said the measures have nothing to do with electioneering and that the government has been working on new action for "some time."