Building on stakeholder management theory, this article examines the salience of Asian stakes in three key areas of Arctic governance: management and use of natural resources, shipping and environmental protection. The Asian states that are now permanent observers in the Arctic Council have significant stakes in Arctic governance, but their salience varies considerably across these issue-areas. Viewing stakeholder patterns in relation to the differentiated roles that the Arctic Council plays in Arctic governance makes it possible to derive some policy implications regarding the depth of Asian state involvement in that body.