Morphological structure and sporogenesis of myxosporean parasite, Parvicapsula anisocaudata from cultured olive flounder, Paralichthys olivaceus were examined by light and transmission electron microscopies. Numerous round early stages, spindle-shaped disporic or monosporic pseudoplasmodia, asymmetrical thin-walled mature spores were found inthe lumen of renal tubule and urinary bladder. Long pseudopodia or short projections from cytoplasm of pseudoplasmodia make the parasite attach firmly to host tissues. Spore development was mono- or disporous with no pansporoblast formation. Sporoplasmic cell was partially surrounded by two capsulogenic cells, and capsulogenic cells were enveloped by two flattened valvogenic cells. Capsulogenesis and valvogenesis followed general patterns seen in that of other myxosporean