The increasing impact of humans on natural habitats leads to an increase in human–wildlife conflict (HWC), especially when there is competition for shared resources. In freshwater systems such as Lake Nasser, Egypt, co-occurrence of local communities consisting exclusively of fishermen with Nile crocodiles (Crocodylus niloticus) poses critical challenges for both livelihoods and biodiversity conservation. Understanding these local fishermen’s perception of crocodiles is therefore essential for developing effective and socially accepted management responses. We used a structured questionnaire to assess how local fishermen perceive and respond to crocodiles across three attitudinal domains: (1) perceived threats, (2) perceived economic benefits, and (3) conservation or coexistence values. A total of 42 fishermen were interviewed across multiple side arms of the lake (khors). The responses gave a multifaceted picture. While many local fishermen associated crocodiles with gear damage, reduced catches, and livelihood risks, support for crocodile protection and recognition of their ecological role were also widespread. Interest in crocodile-based livelihood opportunities, such as harvesting or collecting the eggs and hatchlings, was generally low, suggesting social, cultural, or legal barriers to such approaches. Fishing experience influenced perceptions, with fishermen who encountered crocodiles more frequently reporting decreased catches and greater concern. Cluster analysis further revealed three different respondent groups with different attitudes: conflict-oriented, moderate, and pro-conservation-oriented. Support for crocodile protection was the strongest predictor of belonging to the pro-conservation-oriented group. Our findings underscore the complexity of human–crocodile co-occurrence in Lake Nasser and, on a wider scale, add to the existing cautions against simplistic mitigations of local HWC. Effective conservation and livelihood interventions will require participatory, context-sensitive approaches that integrate the different perceptions and attitudes of local people.