Genetic variation was surveyed at four microsatellite loci and 1416 base pairs (bp) of the mitochondrial DNA (mtDNA) cytochrome c oxidase I gene (COI) to clarify the genetic structure of the small yellow croaker, Larimichthys polyactis, in the Yellow and East China Seas, especially regarding four provisional populations, (one Korean and three Chinese populations). Based on microsatellite DNA variations, the estimated expected heterozygosity ($H_E$) in each population ranged from 0.776 to 0.947. The microsatellite pairwise $F_{ST}$ estimates showed no significant genetic differentiation between the populations. MtDNA variations also indicated no genetic structure in L. polyactis, but very high variability. The absence of genetic differentiation among and within populations of L. polyactis may either result from the random migration of the adult or the passive dispersal of the eggs and larvae.