The effects of water level reduction in rearing tank and fish transference during fish selection process on the stress response (hematological factors, cortisol, glucose, lactic acid and osmolality) of tank-reared olive flounder Paralichthys olivaceus of large (FL), small (FS) and Japanese croaker, Nibea japonica (JC) were examined in running seawater culture system. The water level of rearing unit was lowered from 33 cm to 8 cm in the course of 2 minutes in the water level reduction experiment. The fish were removed from rearing tank (12 ton) to 450 L tank in 30 seconds after capture in the fish transference experiment, In water level reduction, the hematocrit of FL was significantly increased from $14.6\%$ at beginning to $23.5\%$ after 10 hours, However, it decreased to the value of beginning after 46 hours. Plasma cortisol concentration of FL was the highest concentration (13.7 ng/mL) after 22 hours, but it decreased to 4.0 ng/mL at the end of experiment. Cortisol concentration of FS did not show any significant difference during the experiment. The cortisol concentration of JC were significantly higher at 4 hours (282.3 ng/mL) and 22 hours (350.5 ng/mL), Glucose concentration of JC was the highest (138.0 mg/dL) at 22 hours. Lactic acid concentration was not different between experimental groups. In the fish transference experiment, red blood cell of FL was increased from $1.9 imes10^6;cell/{mu};L;to;4.2 imes10^6;cell/{mu}L$ in 24 hours. Blood hemoglobin of JC were significantly elevated in 24 hours. At 1 hour after transference, plasma cortisol concentrations in both fish species were increased to 95.3 ng/mL in FL and 175.5 ng/mL in JC. Glucose concentration of JC was increased to 132.5 mg/dL at 1 hour, 129.5 mg/dL at 3 hours after transference.