1. 1. Testicular homogenates of the teleost Mugil cephalus were incubated in vitro with pregenolone and with progesterone as radioactive precursors. 2. 2. From these incubations, progesterone, 17-hydroxyprogesterone DHA, androstenedione and testosterone were isolated and identified by column, paper and thin-layer chromatography, derivative formation and recrystallization to constant specific activity. 3. 3. The results obtained seem to indicate that the biogenetic pathways leading from pregnenolone to testosterone are the same in fish as in mammals. © 1968.