The parrotfish Oplegnathus fasciatus is a sub-tropical species that is difficult to culture during the winter in South Korea. As a result, a recirculating aquaculture system (RAS) was developed to rear parrotfish. This study investigated the effects of stocking density and dissolved oxygen (DO) concentration on the growth and hematology of the parrotfish in the RAS. The experimental stocking densities were 5 (SD05), 10 (SD10), 15 (SD15), and 20 kg/m3 (SD20) total body weight to tank water volume. As the stocking density increased, the mean weight gain, feed efficiency, and specific growth rate tended to decrease. However, SD10 and SD15 did not differ statistically from SD05 in feed efficiency (P>0.05). Although better growth was achieved in SD05, SD10 and SD15 appeared to be acceptable, practically and economically, in terms of feed efficiency. The experimental DO concentration ranges were 3-4 (DO3), 5-6 (DO5), and 7-8 mg/L (DO7). The mean weight gain and survival tended to increase with the DO concentration, but there were no differences among treatments (P>0.05). Although the feed efficiency did not differ among the treatments, the specific growth rates and daily feed intake increased with the DO concentration and were the highest in DO7 (P<0.05). The cortisol concentration was the highest in DO3 (P<0.05), while there was no difference between DO5 and DO7 (P>0.05).