The purpose of the present study was to confirm the migratory habits of the anchovy, Lycengraulis olidus (Günther), between fresh and sea water environments. Anchovies were examined from three freshwater localities: Bella Vista and Rosario (Paraná river) and Punta Lara (La Plata river), and from four marine localities; Mar del Plata, Bahia Blanca, San Blas and Patagones, all in the Argentine Republic. Five meristic and nine morphometric characters were selected for study, namely: vertebrae; dorsal, pectoral and anal fin rays; gill rakers on the first gill arch; head-length; body-depth; distance between the snout and dorsal, pectoral, ventral and anal fin; eye-diameter; snout and maxilary. The food of the anchovy in fresh and sea water consists principally of fish and crustaceans including copepods, paleamonids, sergestids and larvae of Brachyura. The condition factor of the anchovy was lower in the fresh-water samples and higher in the marine samples. (PDF has 32 pages (two pages on each