The physical aspects of this fish more closely resemble its relative, the Atlantic halibut, than the European turbot (Psetta maxima), but for reasons too numerous to explain, the species must be marketed in the United States as "Greenland turbot" (so as not to confuse it with Pacific halibut) and in Europe as "Greenland halibut" (so as not to confuse it with true turbot). Greenland halibut thrive in the cold, northern waters of the Atlantic Ocean, and are most plentiful wherever there are rich stocks of shrimp.

A traditional fishery in Newfoundland, turbot is found in the cold Arctic waters and deep bays around Newfoundland, Labrador, Baffin Island, and the Gulf of St. Lawrence. The fish are harvested using otter trawls, longlines, and gillnets. Because of the distance between harvesting areas and processing plants, Greenland halibut is frequently frozen at sea. Plants in Nova Scotia and Newfoundland do most of the processing. Numerous product forms exist, primarily H&G (fresh/frozen); skinless and boneless fillets (fresh/frozen in a variety of sizes; blocks and cured products (smoked or salted).

Because of its dense, white flesh and sweet, rich flavour, Greenland turbot is amendable to a number of cooking presentations. The Japanese purchase whole fish for use in sushi and sashimi or to marinate and grill. Marinades work well with turbot because it absorbs the ingredients thoroughly. The high fat content of the fish makes it rich in Omega-3s and ideal for smoking. Cold smoking is particularly suited to the taste and texture of Greenland halibut, making this a gourmet product similar to blackcod in its appeal.