During the period from December in 1994 to January in 1995, the Korean endemic Cobitid fish, Niwaella multifasciata collected from the Kyongho River and Dukchon River which are tributaries of the Nakdong River, Sanchong-gun, Kyongsangnam-do, Korea. This report is a description of the gross morphology of the embryos and larvae up to the development of juvenile period of life. The eggs from the females were obtained by injecting gonadotropin and fertilized by dry method in the laboratory. Live, freshly laid eggs of this species were separative, demersal, reddish orange and average 1.8mm in diameter. The eggs began to hatch approximately about 142 hours after artificial fertilization at the water temperature of 10∼14℃. The newly hatched larvae were average 5.4mm in total length possessing yolk sac and 44∼46 myotomes. The hatched larvae showed high mortality and almost all larvae reached the adult stage. 2 days after hatching, the larvae attained average 7.1mm in total length, and were observed the melanophores at the side of the body at this time. 16days after hatchng, the larvae absorbed the yolk completely and became postlarvae. 85days after hatching, the larvae attained 17.3∼19.9mm in total length and entered the juvenile stage. All the fin rays were formed with complete set of fin rays; D.III, 6, A.III, 4, P. 9, V. 6, C.16. 110 days after hatching, the juvenile reached to 21.9∼24.6mm in total length, and the band patterns of them were very similar to those of the adult of Niwaella multifasciata.