We studied the cardio-respiratory properties in the Japanese amberjack (Seriola quinqueradiata) during acute hypoxia exposure. Fish were exposed to three levels of hypoxia (80, 60 or 50 mmHg) for 60 min at $25^{circ}C$. Cardiovascular parameters (cardiac output; Q, heart rate; HR, stroke volume; SV, blood pressure; $P_{DA}$) changed little from pre-exposure values during both 80 and 60 mmHg of hypoxia. During 50 mmHg of hypoxia, the fish showed a bradycardia which significantly affected Q, whereas no change in SV. $P_{DA}$ increased transiently. Arterial oxygen partial pressure ($PaO_2$) immediately reduced along with a decrease of the water oxygen partial pressure ($P_WO_2$). Arterial $O_2$ content ($CaO_2$) decreased significantly only after 60 min of 50 mmHg of hypoxia. Arterial pH (pHa) and hematocrit value (Hct) did not change significantly. Comparing the effects of different levels of hypoxia, oxygen delivery to the tissues ($Q;{ imes};CaO_2$) should be maintained a constant over a broad range of $P_WO_2$, however, severely depressed below 50 mmHg of hypoxia.