Experiments were performed to study the activity and fertility of grey mullet (Mugil cephalus) sperm after the courses of cold storage and cryopreservation. The head of spermatozoon showing spherical shape was sized $1.26{pm}0.08 {mu}textrm{m}$ in diameter and its nucleus contained numerous granular chromatins. Flagellum of tail showed typical 9＋2 structure. Preservation of grey mullet sperm was the most effective when it was stored with serum of the same species at $0^{circ}C$ and sperm activity index was similar in egg-tris, 0.1 M, 0.3 M and 0.5 M glucose. When grey mullet sperm were cryopreserved in MFRS as diluent with 10% dimethyl sulfoxide was effective compared with other diluents. Some of post-thawed spermatozoa showed the enlarged head and ruptured plasma membrane compared with unfrozen spermatozoa.