Red sea bream, Pagrus major was reared for 86 days with Ulva-extract supplemented diet and the physiological merits were investigated in terms of blood properties and body composition. One percent of the Ulva-extract (corresponding to 0.5% Ulva meal) which was extracted from Ulva pertusa with 60% ethanol was supplemented to commercial diet. Ulva-extract fed group was differentiated in high values in hematocrit, hemoglobin, and red blood cell number, and high activity in a water of high temperatuse (ca. 30°C). Plasma properties were not directly affected by the supplement. The Ulva-extract contributed to the increase in protein and the depression of moisture in the dorsal muscle. While muscle lipid content was not influenced, there appeared qualitative and quantitative changes in triglycerides. It is presumed that the Ulva-extract is available for the improvement of lipid metabolism. In addition, in order to determine the effect of the Ulva-extract on carotenoid metabolism in the fish, the diet supplemented by krill, Euphausia superba oil and the Ulva-extract was fed. However, the effect of the Ulva-extract on carotenoid metabolism was not found.