The energy budget of the larvae of pandalid shrimp, Pandalopsis japonica, reared in the laboratory from zoea to post-larva was investigated. Energy used during the growth of the shrimp larvae was calculated daily for feeding, growth, molting, and metabolism. The total energy used was 16.2 J for the entire larval stage. Molting energy loss was estimated at a total 1.03 J. Energy used for respiration was estimated at a total of 1.85 J. The intake energy by feeding reached a total of 77.69 J. The total sum of energies used by excretion and egestion was 58.61 J. Larvae assimilated 24.57% of ingested food and used 84.91% for somatic growth. The gross growth efficiency ($K_1$) was 22.19% for the entire larval stage, and the net growth efficiency ($K_2$) was 90.31%. Maintenance costs were estimated at 9.69% of assimilated energy for the entire larval stage.