Differences in lipid composition including fatty acid, lipid class, sterol and especially carotenoid between fleshes of wild and cultured prawn, Penaeus japonicus, were studied. Total lipids were extracted from the flesh during the spawning period and fractionated into two lipid classes of polar and nonpolar lipids by silicic acid column chromatography. The fatty acid composition of each lipid classes, total lipid (TL), nonpolar lipid (NL) and polar lipid (PL) were analyzed by gas liquid chromatography. The sterol and carotenoid composition of total lipids were determined by using thin layer chromatography, gas liquid chromatography and column chromatography using MgO-celite 545 and silicic acid-celite 545 as an absorbent, and by UV spectrophotometry. Total lipid contents of both fleshes from the wild and cultured prawn were about $2.0\%$ on average, but the content of the unsaponifiable matters in the cultured prawn (about $16.2\%$ in total lipid) showed a little higher than that of the wild prawn (about $13.9\%$ in total lipid) and the ratio of NL to PL in total lipid was 1:1.7. In the fatty acid composition of TL, the contents of $Cl_{16:0};and;C_{20:3}$ fatty acids were higher in wild prawn than in cultured prawn, while the contents of $Cl_{18:1};and;C_{20:5}$ fatty acids in cultured prawn were higher than those in wild prawn. The cultured prawn contained higher amounts of monoenoic acids and lower amounts of polyenoic acids than the wild prawn. In the fatty acid composition of NL, the wild prawn showed higher levels in $Cl_{18:0};and;C_{20:1}$ fatty acid contents than the cultured prawn, while the cultured prawn contained much amout of $Cl_{16:0};and;C_{18:1}$ fatty acids. On the other hand, the fatty acid composition of PL showed that $Cl_{16:1};and;C_{17:1}$ fatty acid were higher in the wild prawn than in the cultured prawn, but in $Cl_{16:0};and;C_{18:1}$ fatty acids, the levels were reversed. Consequently, the cultured prawn contained higher amount of monoenoic acids, and similar amounts of saturated acids and polyenoic acids to the wild prawn in NL. And the cultured prawn contained lower amount of monoenoic acids, and similar amounts of saturated acids and polyenoic acids to the wild prawn in PL. In sterol composition of both the wild and cultured prawn, the predominant sterol was cholesterol with the proportion of $78.7{sim}88.9\%$ to the total sterol. In addition to the cholesterol, the other minor sterols such as 24-methylene cholesterol and sitosterol were detected. Total carotenoid content in flesh of the wild prawn was relatively higher than that of the cultured prawn marking 70 mg/100g of lipid in wild prawn and 40 mg/100 g of lipid in cultured prawn, respectively. The main carotenoids of the both prawns were astaxanthin($54.1{sim}60.8%$), phoenicoxanthin ($16.5{sim}22.9%$),${ata}-carotene;(20.0{sim}22.0%)$.