A state-of-the-art concept integrating a deepwater floating offshore wind turbine with a steel fish-farming cage (FOWT-SFFC) is presented in this paper. The configurations of this floating structure are given in detail, showing that the multi-megawatt wind turbine sitting on the cage foundation possesses excellent hydrostatic stability. The motion response amplitude operators (RAOs) calculated by the potential-flow program WAMIT demonstrate that the hydrodynamic performance of FOWT-SFFC is much better than OC3Hywind spar and OC4DeepCwind semisubmersible wind turbines. The aero-hydro-servo-elastic modeling and time-domain simulations are carried out by FAST to investigate the dynamic response of FOWT-SFFC for several environmental conditions. The short-term extreme stochastic response reveals that the dynamic behavior of FOWT-SFFC outperforms its counterparts. From the seakeeping and structural dynamic views, it is a very competitive and promising candidate in offshore industry for both power exploitation and aquaculture in deep waters.