Abstract: Accumulation of lipid reserves in the copepod Calanus finmarchicus (Gunnerus) is very important as it is the determinant of the time to enter into diapause for the completion of the life cycle. Storage lipids also provide energy for other metabolic activities such as gonad development and egg lying. The major lipid classes in C. finmarchicus Wax Ester (WE) and Triglyceride (TG) were identified using HP-TLC with the major class being WE followed by TG, while HPLC-ELSD was used to quantify the storage lipid reserves. Total storage lipids were significantly different between life cycle stages (ANOVA, p<0.05) with C4 stages having the highest lipid content (78.80%) of body weight. On the whole, storage lipids varied significantly between seasons in the order spring<winter<summer. Between shallow water (<100 m) and mid depth water (101-1000 m), lipid contents increased but decreased at deep water (>1000 m), thus storage lipids did not differ significantly with sampling depth (ANOVA, p>0.05).