This study gives the first data on the body and beak morphometric characteristics, age, and genetic structure of neon flying squid, a rarely caught cephalopod in the Adriatic Sea. We identified specimens as recently resurrected Ommastrephes caroli species using two mitochondrial markers, 16S ribosomal RNA gene and cytochrome c oxidase subunit I gene. Overall, 23 juveniles (3 females, 3 males, and 17 unsexed), with a dorsal mantle range of 65–152 mm, were caught in September 2020 in the waters of the Korčula Channel, island of Palagruža, and island of Jabuka, thus providing the most abundant sample of this species in the Mediterranean waters. The length–weight relationship showed an isometric growth. The results of the beak/length regressions suggest hood length is a useful characteristic for biomass estimation studies, as it showed a good linear fit to the dorsal mantle length. Statolith growth increments were easily visible and statolith microstructure analysis was successfully used to determine the age of 22 individuals. The estimated age ranged from 36 to 64 days (mean = 48 days). The back-calculation analysis showed that the squid hatched during July and August 2020, indicating that O. caroli spawns during the warmer, summertime period. Considering the size and age of the caught individuals, the Adriatic Sea could represent a potential feeding ground for this species. The genetic structure analyses indicate the existence of separate Atlantic and Mediterranean/Adriatic subclusters; however, this warrants further investigation.