The gonadal development, the annual reproductive cycle and the first sexual maturity of surf clam, Mactra veneriformis Reeve were studied histologically. Speciemens were monthly collected at the intertidal zone of Naechodo, Chollabuk-do, Korea, for one year from March 1986 to February 1987. Sexuality of the clam is dioecious. The gonads were located between the subregion of mid-intestinal gland in the visceral cavity and the reticular connetive tissues of the foot, The ovary is composed of a number of ovarian sacs, and the testis comprise several testiculat lobules. The undifferentiated mesenchymal tissues and eosinophilic granular cells function as nutritive cells in the early stage. The ripe eggs were about 50-60${mu}{ extrm}{m}$ in diameter, and they were wurroundedby the gelatinous membranes. The spawing period was from early June to September the main spawning occurred beetween July and August when the water temperature reached above 24$^{circ}C$. The annual reproductive cycle of this species could be classified into five successive stages: multiplicative(January to March), growing(March to May), mature(April to August), spent(June to September), degenerative and resting(September to February). The monthly changes of fatness coefficient closely correlated with the annual reproductive cycle. Percentages of the first sexual maturity of female and male clams were over 50% among those individals ranging from 2.1 To 2.5cm, and 100% in those over 2.6cm in shell length.