This study was conducted to investigate the effects of dietary lipid source and level on growth performance, blood parameters, fatty acid composition and flesh quality of sub-adult olive flounder Paralichthys olivaceus. Eight experimental diets were formulated to contain 5% squid liver oil (SLO), 5% linseed oil (LO), 5% soybean oil (SO), a mixture of 1% squid liver oil, 2% linseed oil and 2% soybean oil (MIX), no lipid supplementation with high protein level (LL-HP), 10% squid liver oil (HL-SLO), a mixture of 1% squid liver oil, 4.5% linseed oil and 4.5% soybean oil (HL-VO), and 1% squid liver oil with high starch level (LL-HC), respectively. Two replicate groups of fish (average initial weight of 296 g) were fed the diets for 17 wks. After 5 wks, 11 wks and the end of the feeding trial, five fish from each tank were randomly sampled for analysis of body composition. At the end of the feeding trial, final mean weight of fish fed the LL-HP diet was significantly (p<0.05) higher than that of fish fed the HL-VO diet, but did not differ significantly from those of fish fed the SLO, LO, SO, MIX, HL-SLO and LL-HC diets. Fish fed the LL-HP diet showed significantly higher feed efficiency than fish fed the LO, HL-SLO and HL-VO diets. Feed efficiency of fish fed the LO, SO and MIX diets were similar to those of fish fed the SLO and HL-SLO diets. Fish fed the HL-SLO diet showed significantly higher total cholesterol content in plasma compared with other diets. Fatty acid composition of tissues was reflected by dietary fatty acid composition. The highest linoleic (LA) and linolenic acid (LNA) contents in the dorsal muscle were observed in fish fed the SO and LO diets, respectively, regardless of feeding period. The highest eicosapentaenoic acid (EPA) content in the dorsal muscle was observed in fish fed the LL-HP and LL-HC diets after 11 and 17 weeks of feeding, respectively. Fish fed the SLO and HL-SLO diets showed higher docosahexaenoic acid (DHA) content than that of other treatments after 11 and 17 weeks of feeding, respectively. Dietary inclusion of vegetable oils reduced n-3 HUFA contents in the dorsal muscle and liver of fish. The n-3 HUFA contents in tissues of fish fed the SLO and HL-SLO diets were higher than those of fish fed other diets, except for the LL-HP and LL-HC diets. Hardness, gel strength, chewiness and cohesiveness values of dorsal muscle in fish were significantly affected by dietary lipid source. The results of this study indicate that fish oil in fish meal based diets for sub-adult olive flounder could be replaced by soybean oil and linseed oil without negative effects on growth and feed utilization.