This study was carried out to investigate the histomorphological changes of ovaries obtained from 100 of 1-year-old female Korean loach(misgurnus anguillicaudatus). The light microscopic and ultrastructural changes ofooplasm and follicular membranes of oocytes, were observed by lightand transmission electron microscope during the reproductive cycle. All data were collected from November in 1991 to May in 1992. The results obtained in this study were as follows: The size of the nucleoli and number of the yolk granules increased as the oocytes grown. Yolk granules were loosely deposited in the oocytes as crystalline granules. Due to the presence of large early and late maturing oocytes, their ovaries were enlarged, transparent, granular and yellowish in color. The lattice was broken down at hydration, leaving the egg transparent. As the percentages of fish in LMO and RO stage increased from March to April, mean gonadosomatic index(GSI) values(18.49%) increased. Zona radiata change a squamous into cuboid shape in EMO stage. Processes from the granulosa cells and from the oocyte, microvilli grow and make contact with other in the pore canals of the zona radiata during vitellogenesis, but are withdrawn as the zona radiata becomes more compact and devoid of pore canals during oocyte maturation. Seasonal changes in the microscopic appearance of the ovaries were well correlated with those in both GSI and macroscopic appearance.