Food quality is one of the key factors influencing zooplankton population dynamics. Eutrophication drives phytoplankton communities toward the dominance of cyanobacteria, which means a decrease in the availability of sterols and long-chain polyunsaturated fatty acids (EPA and DHA). The effects of different restoration measures on the nutritional quality of the phytoplankton community and subsequent impacts on zooplankton biomass have rarely been considered. We analyzed the nutritional quality of phytoplankton in the eutrophic Lake Vesijärvi in southern Finland over a 37-year period, and studied the impacts of two restoration measures, biomanipulation and hypolimnetic aeration, on the abundance of high-quality phytoplankton. We found that biomanipulation had a positive impact on the abundance of taxa synthesizing sterols, EPA, and DHA and, concurrently, on the biomass of the keystone species Daphnia. In contrast, hypolimnetic aeration did not result in such a beneficial outcome, manifested as a decrease in the abundance of Daphnia and frequent phytoplankton blooms dominated by cyanobacteria suggesting reduction in the nutritional quality of food for Daphnia. Our analysis shows that the determination of the nutritional value of algae and the contribution of essential fatty acids and sterols is an effective method to evaluate the success of various restoration measures.