The biochemical composition of deep frozen samples of the euphausid, Meganyctiphanes norvegica, collected over the 6-month period November-May, has been investigated. The mean values for the whole period showed substantial amounts of protein (57% dry weight) and of lipid (18% dry weight), but carbohydrate content was insignificant (2%). Chitin and ash amounted to 18%. Protein varied from a mean monthly minimum in February (50%) to a maximum in April (62%); lipid from a minimum in April (10%) to maximum in November (29%). The fluctuations suggest a reciprocal relationship between protein and lipid content. The very large fluctuations in total lipid suggested by some workers for certain zooplankton species have not been substantiated. Some preliminary data on the biochemical composition of Thysanoessa inermis are included. © 1969.