Atwelve week experiment was conducted to evaluate the suitability of gambusia {Gambusia afflnis) fish meal (GFM) as a partial or complete substitute for the protein supplied by herring fish meal (HFM) in diets for the growth of common carp fingerlings (mean weight of 0.35g/fish). Seven isonitrogenous (35% crude protein), isolipidic (9%) and isocaloric {3.7 kcal DE/g) diets were formulated in which GFM replaced 0.0%, 10%, 25% 50%, 75%, 90% and 100% of the protein supplied by HFM. Results demonstrated that GFM has good potential as a substitute for up to 50% of the protein supplied by HFM in common carp diets with no significant (P 0.05) compared to fish fed the control diet. Hematological characteristics of common carp were examined at the end of the study and the results showed that values of hemoglobin, RBC, hematocrit and serum protein in fish groups of all the treatments were statistically equal or even better than those offish fed the control diet. An economic analysis suggested the possibility of