Following the Sustainable Livelihoods Framework (SLF), this research discusses the livelihood changes in the Badouzi Fishing Village under the University Social Responsibility Program (USR Program) conducted by the National Taiwan Ocean University (NTOU). These livelihood changes are assessed according to the interaction of vulnerability contexts, livelihood resources, transforming structures and processes, livelihood strategies, and livelihood outcomes. Based on the SLF, appropriate evaluation indicators are developed and applied to the sustainable livelihood of fishing villages. From interviews with stakeholders, it was found that the NTOU USR Program produced higher incomes, with reduced vulnerability and better sustainable use of the natural resource base of the village. In addition to increasing the popularity and profitability of local fishing and fisheries, the USR program also identified ways to develop local tourism, as well as leisure and recreation activities. The insights provided in this study should enable local authorities and city governments to devise feasible strategies to further improve livelihoods.