Sonobuoy fields, comprising a network of transmitters and receivers, are commonly deployed to find and track underwater targets. For a given environment and sonobuoy field layout, the performance of such a field depends on the scheduling, that is, deciding which source should transmit, and which from a library of available waveforms should be transmitted at any given time. In this paper, we propose a novel scheduling framework based on multi-objective optimization. Specifically, we pose the two tasks of the sonobuoy field—tracking and searching—as separate, competing, objective functions. Using this framework, we propose a characterization of scheduling based on Pareto optimality. This characterization describes the trade-off between the search-track objectives and is demonstrated on realistic multistatic sonobuoy simulations.