The study attempted to examine the marketing system of fish seed aiming to determine the channel and marketing profit of market participants. For this study 20 hatchery operators, 80 nurserers, 20 fry traders and 90 pond fish farmers were selected from four districts of Bangladesh. Primary data were collected by survey method wherein various market participants were interviewed from the selected areas for eliciting information at various stages of fish seed marketing. Hatchery operator sells fish seed at their farm gate to nurserers and fry traders. In general, fish farmers receive fish seed from fry traders at their farms. For that reason, both hatchery operators and fish farmers had no marketing cost. The fry traders and r}urserers - the main intermediaries or market participants incurred marketing cost as they performed different marketing functions. Purchase and sale price were main determinants in making profit for market participants. The study revealed that government fish seed farms (GFSFs) produced good quality fish seed and accordingly their cost of production and sales price both were higher compared to private fish seed farms (PFSFs). As a result. marketing margin and profit for market participants who purchased seeds from GFSFs were also higher compared to those who purchased seeds from PFSFs. The seasonal price variation was observed in different months of a year due to changes in demand and supply of fish seed.