Ultrastructure of the larval hemocytes in Sericinus montela Grey was observed with the transmission and scanning electron microscope. The 5 cell types, according to Breh lin and Zachary(1986), identified in the hemocytes of the last instar S. montela larva were; prohemocyte, plasmatocyte, granular cell, spherule cell and oenocytoid. Prohemocytes could be easily charaterized by a relatively large nucleus nd poorly developed cytoplasmic organelles. Plasmatocytes were relatively large spindle-shaped or oval cells with fibrous bundles. The spindle-shaped plasmatocytes, especially, were characterized by a well developed, elongated nucleus. Granular cells had various granules, either morphologically or in electron density, and highly developed cytoplasmic organelles in the cytoplasm. They had numerous cytoplasmic processes. Spherule cells were characterized by cytoplasmic spherules containing fine materials, which are released into the hemolymph upon maturity of the cell. Oenocytoids consisted of electron dense materials and the organelles in cytoplasm were poorly developed.