The complete larval development of Metapenaeus moyebi was studied by rearing them in the CMFRI laboratory at Karwar. The viable eggs take 8i to 10 hours to hatch out and the duration of nauplius stage ranges between 37 and 44 hours. The protozoea transforms into mysis after 5 to 5 ½ days. The mysis stage lasts for 9 ½   to l0 ½ days. Complete larval development from egg to post larva I takes 16-181 days. There are 6 nauplius sub-stages, 3 protozoea substages, 3 mysis substages and 1 intermediate stage during the course of development. The detailed structure of the larval substages is described and illustrated in this paper.