Effect of dietary protein and lipid levels on compensatory growth of juvenile olive flounder (Paralichthys olivaceus) was determined in suboptimal temperature ($13.4{pm}1.42^{circ}C$). Five hundred forty fish averaging 79.2 g were randomly distributed into 27 of 300 L flow-through tanks (20 fish/tank). Nine treatments were prepared in triplicate: fish were hand-fed with control (C) diet for 10 weeks (10WF-C); four fish groups were starved for 1 week and then fed with C, high protein (HP), high lipid (HL) and combined high protein and high lipid (HPL) diets for 9 weeks, referred to as 9WF-C, 9WF-HP, 9WF-HL, 9WF-HPL, respectively; and other four fish groups were starved for 2 weeks and then fed with C, HP, HL and HPL diets for 8 weeks, referred to as 8WF-C, 8WF-HP, 8WF-HL and 8WF-HPL, respectively. Weight gain and specific growth rate of fish in 9WF-HP, 9WF-HPL, 8WF-HP and 8WF-HPL treatments were higher than those of fish in 9WF-HL and 8WF-HL treatments. Feed efficiency of fish in 8WF-HP treatment was higher than that of fish in 9WF-C, 9WF-HL and 8WF-HL treatments. Protein efficiency ratio of fish in 10WF-C, 8WF-C, 8WF-HP and 8WF-HPL treatments was higher that that of fish in 9WF-HL and 8WF-HL treatments. Juvenile olive flounder subjected to 2-week feed deprivation could achieve full compensatory growth with dietary supplementation of protein or combined high protein and high lipid.