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The United Nations' highest court set maritime boundaries for Chile and Peru on Monday.
According to the Associated Press, the set boundaries will give Peru a larger portion of the Pacific Ocean, but will allow Chile to retain its coastal fishing grounds.
The decision by the International Court of Justice ends a decades-long debate about how to separate the rich-fishing South American waters.
BBC News has reported that in 2008, Peru asked the ICJ to rule on the matter, saying the border was not legally set.
Peru originally wanted a maritime border where the two country's land met the sea, while Chileans wanted a border that extended away from the coast.
"The Court has defined the course of the maritime boundary between the parties without determining the precise geographical coordinates," said Judge Peter Tomka.
Officials in both countries have had mixed reactions about the decision, but say they will respect The Hague’s ruling.