A population ecological study was carried out to estimate survival and growth rates, biomass, biological production and turnover ratio of cultured sea squirt, Halocynthia roretzi, by growth stages, using data from in situ culture experiment off Hansando in the southern part of Korea from February 1985 to July 1986. The squirt population followed an exponential decay function and the instantaneous coefficient of total mortality (Z) was estimated to be 0.0614 $month^{-1}$(Var (Z) = 0.000126). Growths in total weight and meat weight of squirts were expressed as linear functions during the period of culture experiment. The growth of squirts showed a negative correlation with the water temperature. The mean biomass per string ranged from 2.14 kg for March of the first year to 16.26 kg for March of the next year. The biological production per string was estimated to range from 3.28 kg for the first summer (June - July) to 6.46kg for the first late winter (February-March). The peak of turnover ratio occurred in the late winter (February-March) as 3.013 and the ratios sharply declined thereafter. Based on the results of this study, management implications for culturing sea squirts were also suggested. The optimum harvest time ($t_{mb}$) when the peak biomass in terms of total weight occurred was estimated to be late June of the second year, which corresponded to 16.7 months after the main hanging. However, the time when the peak biomass in terms of meat weight was occurred was early July of the second year. The maximum harvest biomass was 17.4 kg per string in terms of total weight and 6.3 kg per string in terms of meat weight. In conclusion, the process of culture should be conducted on the basis of the knowledge of population ecological theories as shown in this study.