A 6-week feeding trial was conducted to determine apparent protein and phosphorus digestibilities in order to evaluate nine different dietary protein sources in growing olive flounder, Paralichthys olivaceus. Nine diets containing fish meal analog ($BAIFA-M^{TM}$), white fish meal (WFM), flounder muscle powder (FMP), squid liver powder (SLP), leather meal (LM), soybean meal (SM), corn gluten meal (CGM), poultry by-product (PBP) or egg albumin(EA) were prepared by mixing a basal diet (BD) with one of nine test ingredients at the ratio of 7 to 3. Apparent protein digestibilities of FMP, SLP, WFM, SM, CGM, LM, PBP, $BAIFA-M^{TM}$, and EA were 94%, 92%, 86%, 82%, 75%, 72%, 72%, 71%, and 30%, respectively. Apparent phosphorus digestibilities of FMP, SLP, $BAIFA-M^{TM}$, LM, WFM, PBP, CGM, EA and SM were 77%, 72%, 65%, 55%, 54%, 50%, 20%, 20%, and 17%, respectively. Weight gain of fish fed FMP ($323^a$) was significantly higher than those of fish fed the other diets, and those of fish fed basal diet ($302^b$), SLP ($305^b$) and WFM ($308^b$) diet were significantly higher than those of fish fed SM ($274^c$), $BAIFA-M^{TM}\;(268^{cd}),\;PBP\;(261^{de}),\;LM\;(251^e),\;CGM\;(254^e)$ and EA ($181^f$). Based on the results of apparent protein digestibilities, apparent phosphorus digestibilities and weight gain, SLP, SM and $BAIFA-M^{TM}$ could be one of good protein source to replace fish meal in flounder diets.