This study was undertaken to determine the effects of HCG and trout pitutary on sexual maturation and ovulation in the Korean loach, Misgurnus anguillicaudatus. Sexual maturation was observed in the fish treated with 250＋125 IU HCG within 2-4 days following injections. Total ovary weight and GSI were significantly greater in the hormone-treated fish than in the control fish. Furthermore, in the hormone-treated fish body weight increased by about 4-9 percent in 2 days. The water content of the ovulated eggs of the fish treated with 250＋125 IU HCG was also greater than that in the control. Changes in both macroscopic & microscopic appearnce of Korean loach ovaries are describled, as well as changes in the gonadosomatic index. Oocytes pass through seven cytologically changes in the relative stages. By examining these stages, it was found that oogenesis occures in two broad phases. The previtellogenic phasebegins as a new oogonia continues to arise following spawning. These rapidly develop into early perinucleolus oocytes, which in turn develop into resting stage oocytes. Most oocytes remain in this stage when they develop into late perinucleolus oocytes. The vitellogenic phase begins as these late perinucleolus oocytes become transformed into early maturing oocytes through the accumulation of yolk. The cytoplasm completely fills with yolk as oocytes reach the late maturing stage. Shortly before spawning the final hyaline stage of developing is reached. Changes in the microscopic appearances of the ovaries were well correlated with changes in both gonadosomatic index and macroscopic appearance.