A study was conducted to identify the best cryoprotectant for the spermatozoa of the mullet, Liza parsia (Hamilton-Buchanan), during cryopreservation, based on changes in ultrastructure and motility. Various cryoprotectants alone and in combinations, at different concentrations have been tried. Morphology of spermatozoa before and after cryopreservation was studied by transmission electron microscopy (TEM). A combination of 5% DMSO and 5% glycerol in V2E extender accorded better protection than 10% DMSO alone.