Two consecutive feeding trials were conducted to evaluate the effects of extruded pellet (EP) and raw fish-based moist pellet (MP) in the juvenile (experiment I) and sub-adult (experiment II) stages of olive flounder, Paralichthys olivaceus . The fish were distributed randomly to three aquarium tanks, as a group of 1,200 fish (initial mean weight 13.5±1.76 g) in experiment I, and as a group of 390 fish (initial mean weight 385±15.3 g) in experiment II. In experiment I, the weight gain, specific growth rate, feed efficiency, protein efficiency ratio, and survival of fish fed EP were all significantly higher than those of fish fed MP. In experiment II, no significant differences were observed in weight gain, specific growth rate and survival between the EP and MP groups. However, the feed efficiency and protein efficiency ratios of fish fed EP were significantly higher than those of fish fed MP. The results of this study indicate that EP could be developed to replace MP for market size production of olive flounder without any adverse effects on the growth performance. The dietary formulation used in this study could be used as an appropriate feed for olive flounder.