The development of eggs and larvae, and minute scale-like tubercles on the skin surface of larval Acantlaorhodeus gracilis from Korea were observed. They spawned from late March through the middle of June. A fish spawned at least 5 times and the number of eggs averaged 304 per oviposition. Unfertilized eggs are nearly ovoid-shaped(mean$pm$SD=$2.09{pm}0.04;mm$ in length with range of 2.05 to 2.13 mm and mean$pm$SD=$1.26{pm}0.02;mm$ in breadth with range of 1.24 to 1.30 mm measured for the 50 eggs) and opaque yellow color. The tip of egg membrane at the animal pole side swelled and formed a few hilly projections. The shape of the eggs was just like a loquat. Most of embryos began to hatch out in thirty-eight hours after insemination at $22{pm}1^{circ}C$ in water temperature. As regards the morphological characters of the eggs and larval development, Acan. gracilis was similar to Acan. asmussi, Acheilognathus rhombeus, A. longipinnis and Pseudoperilampus typus. The larvae of this species is unique particularly in the following two characters, i.e., 1) scale-like tubercles ellipsoided in a diagonal cross section on the whole body and 2) incessant wiggly movement pattern as that of fly maggot, with the larvae of the above mentioned species. These characters seem to reflect the phylogenetic relationships among acheilognathine fishes. On the other hand, this species and Acan. asmussi are spring-summer spawning bitterlings. And also these species never retard the larval growth in such larval stage as the duration from Stage B to Stage D.