The ricefield eel is becoming an important aquaculture species in China. However, the regulation of oocyte growth and maturation in ricefield eels is poorly understood. In this study, the development of ricefield eel ovarian follicles was classified into nine stages, namely the primary growth/previtellogenic (PG/PV), early vitellogenic (EV), mid-vitellogenic (MV), late vitellogenic (LV), full-grown (GV0), germinal vesicle migration 1 (GV1), germinal vesicle migration 2 (GV2), germinal vesicle migration 3 (GV3), and germinal vesicle breakdown (GVBD) stages, which are based on follicle morphologies and sizes, vitellogenic states, and the positions of germinal vesicles. Comparative transcriptomic analysis was performed on isolated ovarian follicles from the MV to the GVBD stages. A total of 438,410 high-quality reads were obtained after filtering from six cDNA libraries of ovarian follicles at the MV, LV, GV0, GV1, GV2, and GVBD stages, 92.09% of which were perfectly mapped to the ricefield eel genome. Real-time PCR analysis showed that the expression profiles of 20 representative genes related to oocyte growth and maturation largely paralleled with those inferred from transcriptome data, which indicated the reliability of RNA-Seq data for gene expression analysis in the present study. The estradiol biosynthesis pathway was highly activated in ovarian follicles at the LV stage, which may be related to the stimulation of vitellogenin synthesis and/or meiotic arrest. The high expression of the Vtg receptor gene vldlr in ovarian follicles at MV and LV is consistent with active vitellogenesis at these stages. Thirteen cathepsin-encoding genes were highly expressed in ovarian follicles with different expression profiles during development from MV to GVBD, which implied their differential roles in vitellogenin hydrolysis during oocyte growth and maturation. Many cell cycle-related genes showed the lowest expression at GV0 and then increased expression at GV1 and GV2, which indicated that the resumption of meiosis may be initiated at GV0. The highest expression of the adenyl cyclase genes adcy3a, adcy5, adcy6, adcy6-like, and adcy7 at MV and/or LV, while that of phosphodiesterase genes pde1c, pde4b, pde4b-like, pde4c, pde7a, pde8b, pde10, and of the cyclic AMP-dependent transcription factor atf-3 gene observed at GV0 indicated that cAMP signals may play important roles in oocyte meiotic arrest and resumption in ricefield eels. Parallel expression profiles of urok, mmp2, mmp9, mmp11, mmp14a, mmp14b, mmp17a, mmp19, and mmp25 suggest their potential roles in tissue remodeling during oocyte maturation and ovulation in ricefield eels. Collectively, the data of the present study will aid in further understanding the molecular mechanisms underlying oocyte growth and maturation in ricefield eels as well as in other teleosts.