An adaptive-feedback-based read-look-ahead management system and method are provided. In one embodiment, a method for stream management is presented that is performed in a storage system. The method comprises performing a read look ahead operation for each of a plurality of streams; determining a success rate of the read look ahead operation of each of the plurality of streams; and allocating more of the memory for a stream that has a success rate above a threshold than for a stream that has a success rate below the threshold. Other embodiments are provided.