Effect of fasting and refeeding on growth and blood chemistry of juvenile olive flounder Paralichthys olivaceus L. was investigated when fish achieved compensatory growth. Fish were fed the experimental diet for 6 days a week. Five treatments in triplicate were prepared: C, S1, S2, S3 and S4. Fish in the control group (C) were hand-fed to apparent satiation twice a day. Fish in treatments of S1, S2, S3 and S4 experienced 1, 2, 3 and 4 weeks of starvation and were then hand-fed to satiation twice daily during the remaining 7, 6, 5 and 4 weeks of the experiment, respectively. Weight gain of fish in C, S1 and S2 were higher than those of fish in S3 and S4. A significant difference in plasma total protein, glucose, triglyceride, $T_3$ and $T_4$ was observed in between starved and refed fish for the rest periods of the feeding trial. Plasma total protein and $T_3$ of flounder decreased with week of fasting and following correlationships were obtained; Y (Total protein) = -0.13X (week of fasting) + 1.54, $R^2=0.9792$ and $Y(T_3)=-11.48X$ (week of fasting) + 79.57, $R^2=0.8822$, respectively.