Cleaner organisms perform key functional roles in reducing rates of parasitism in marine communities. Pederson cleaner shrimps Ancylomenes pedersoni are major cleaners of reef fishes in the tropical western Atlantic and form obligate symbioses with host sea anemones. Information about their life-history traits would contribute to understanding how symbiosis impacts life-history evolution in crustaceans, but little is known about patterns of growth and reproduction in this anemone shrimp. We quantified growth, sexual reproduction, senescence, and mortality in individuals of A. pedersoni under laboratory conditions and their abundance and population size structure on coral reefs in St. Thomas, U.S. Virgin Islands. Von Bertalanffy growth curves were fitted to the data to determine age-size relationships, and the Beverton-Holt model was used to estimate mortality rates and size at maximum yield. Individuals grew rapidly when young, then slowed their growth after reaching sexual maturity at ~6 months. Individuals were gonochoric, with males attaining significantly smaller body sizes and shorter life spans than did females. Prior to death at <2 years, members of both genders exhibited senescence during which they ceased reproducing, shrank (females only), and decreased their activity levels over ~1-4 weeks. Field populations were abundant and composed mostly of juveniles during both years examined. Populations appeared to be stable but highly dynamic in terms of individuals, reaching maximum yield at 4 months of age. We conclude that obligate symbiosis with large sea anemones and cleaner mutualism with reef fishes both contribute to explaining aspects of the life history of Pederson shrimps, especially their apparent mating system of pure-search polygynandry. This life-history information also provides a scientific basis for sustainable fishery management and aquaculture of this key coral reef organism.