Snailfish, Liparis tanakai (Gilbert et Burke) is widely distributed in the coastal waters of Korea and Japan. On December 21, 1985, fertilized eggs of the fish were collected from the coastal waters of Saryang-do island, Kyongsangnam-do, Korea, and the eggs were incubated and the larvae reared at a mean water temperature of $9.2^{circ}C$ in the laboratory. The fertilized eggs of this species are demersal, adhesive and spherical in shape, measuring $1.68{sim}1.78mm$ (mean 1.72mm, n=30) in diameter, containing about 20 oil globules. Hatching took place 21 days after blastula stage. During the incubation period water temperature fluctuated between $8.1^{circ}C;and;11.8^{circ}C$. The newly hatched larvae were $5.70{sim}6.41mm$ (mean 6.10mm, n=30) in total length with $7{sim}9$ (abdominal) and 36 (caudal) myomeres. Many melanophores were distributed on the large pectoral fin, yolk sac and peritoneum. Twelve days after hatching, the larvae attained $5.85{sim}6.46mm$ in total length, and at this time the larvae absorbed the yolk almost completely. Melanophores appeared on the snout and the posterior part of head.