The features of embryonic and early larvae development of Phoxinus lagowskii Dybowskii were studied by live body observing and fixed samples observing methods. The results showed that the mature oocyte eggs of wild P. lagowskii are spherical in shape, slightly transparent with light yellow in color, sinkadhesive with moderate and elastic egg envelopes. At water temperature of 15.0-17.1 ℃, the development of fertilized eggs from fertilization to hatching took 170 h with an accumulative temperatures of 2612.8 ℃·h. The whole embryonic development processes of P. lagowskii were divided into 6 stages, including fertilization stage, cell division stage, blastula stage, gastrula stage, neurula stage and organogenesis stage, and the accumulative temperatures of each stage were 17.0, 119.0, 145.0, 132.0, 164.0, and 2035.8 ℃·h, respectively. The organs differentiated during the embryonic development stage and basically formed after hatching, and pectoral fin, caudal fin and anal fin were fully differentiated, and dorsal fin anlage appeared. The newly hatched larvae were diaphanous and nonpigmented with an ellipticshape yolk sac. At 3 days after hatching, black spots at body surface gathered into blocktype and the yolk sac was nearly exhausted, soon after the larvae can ate exogenousfood such as microalgal diets, paramecia and egg yolk.