Abstract: The fish lipid was extracted from the body muscle (edible portion) of fresh Lepidocephalus guntea (Ham.) fish and the lipid content of the fish in size-1 (below 8.5 cm), size-2 (8.5-9.5 cm) and size-3 (above 9.5 cm) were found to be 2.515, 3.013 and 3.455%, respectively. The specific gravity and refractive index of the lipid were found to be 0.93 at 30 ° C and 1.467 at 31.5 ° C, respectively. The saponification value, saponification equivalent, iodine value, peroxide value and acetyl value of the lipid were found to be 220.325, 254.624, 96.05, 1.993 and 11.32, respectively. The acid value, percentage of free fatty acid as oleic and unsaponifiable matter present in the lipid were found to be 2.005, 1.008 and 0.593, respectively. The fatty acid composition of the lipid was determined qualitatively and quantitatively by TLC and GLC. The analysis revealed that the fatty acid composition of the lipid lies between C14 to C20. The fish lipid of Lepidocephalus guntea (Ham.) was found to contain (average value) myristic acid (3.17%), palmitoleic acid (7.45%), palmitic acid (29.16%), linolenic acid (7.13%), linoleic acid (5.57%), oleic acid (22.93%), stearic acid (17.42%), arachidonic acid (7.17%) and arachidic acid in trace amount.