Aquaculture involves cultivating marine and freshwater organisms, with real-time monitoring of aquatic parameters being crucial in fish farming. This thesis proposes an IoT-based framework using sensors and Arduino for efficient monitoring and control of water quality. Different sensors including pH, temperature, and turbidity are placed in cultivating pond water and each of them is connected to a common microcontroller board built on an Arduino Uno. The sensors read the data from the water and store it as a CSV file in an IoT cloud named Thingspeak through the Arduino Microcontroller. In the experimental part, we collected data from 5 ponds with various sizes and environments. After getting the real-time data, we compared these with the standard reference values. As a result, we can make the decision about which ponds are satisfactory for cultivating fish and what is not. After that, we labeled the data with 11 fish categories including Katla, sing, prawn, rui, koi, pangas, tilapia, silvercarp, karpio, magur, and shrimp. In addition, the data were analyzed using 10 machine learning (ML) algorithms containing J48, Random Forest, K-NN, K*, LMT, REPTree, JRIP, PART, Decision Table, and Logit boost. After experimental evaluation, it was observed among 5 ponds, only three ponds were perfect for fish farming, where these 3 ponds only satisfied the standard reference values of pH (6.5-8.5), Temperature (16-24)oC, Turbidity (below 10)ntu, Conductivity (970-1825)μS/cm, and Depth (1-4) meter. Among the state-of-the-art machine learning algorithms, Random Forest achieved the highest score of performance metrics as accuracy 94.42%, kappa statistics 93.5%, and Avg. TP Rate 94.4%. In addition, we calculated the BOD, COD, and DO for one scenario. This study includes details of the proposed IoT system's prototype hardware.