The total amount of lipid content in the mullet roe is 20.5%, and iodine value and unsaponifiable matters content are 118 and 38.7%, respectively. The lipid composition of the muscle, roe and liver of the mullet, Mugil cephalus, shows differences. Triglyceride, wax esters, and free fatty acids are mainly contained in the lipids of the muscle, roe and liver, respectively. The mullet roe lipids are mainly composed of 59.1% of wax esters with a trace of sterol esters, 26.9% of polar lipids with pigments, 9.0% of triglyceride plus a trace of free fatty alcohols and fatty acids, and 3.0% of sterol contaminated with a trace of fatty alcohols. The major fatty acids of wax esters are C16 : 0, 47.5%, C18 : 1, 23.0%, C16 : 3, 6.5%, C20 : 5, 4.0%, those of triglyceride are C16 : 1, 25.1%, C18: 1, 16.7%, C16 : 0, 16.3%, C22 : 1, 7.9%, C18 : 0, 5.5%, C22 : 6, 4.4%, and those of polar lipids are C16 : 0, 35.0%, C18 : 1, 24.7%, C16 : 1, 6.1%, C20 : 5, 5.3%, C22 : 6, 4.2%. The major alcohols of wax esters are 51.0% of cetyl alcohol, 18.2% of palmitoleyl alcohol, and 10.7% of oleyl alcohol, and considerable amounts of odd-numbered alcohols such as C15 : 0, C15 : 1, C17 : 0, C17 : 1 and C19 : 1 are also found.