Biochemical indices of aerobic and anaerobic metabolic capacity were measured in white myotomal muscle of eight marine elasmobranch fish species representing a broad range of locomotor performance, and in red myotomal muscle and heart of three of those species. The objectives were to determine if metabolic capacities vary with typical fish activity level, to compare the endothermic mako shark with ectothermic pelagic sharks, and to compare elasmobranchs with teleosts in order to test the hypothesis that elasmobranchs have lower aerobic capacities, metabolic rates, and swimming speeds. In white myotomal muscle, activities of the enzymes citrate synthase (an index of aerobic capacity), pyruvate kinase, and lactate dehydrogenase (LDH, an index of anaerobic capacity) covaried with typical activity level, and the ability to tolerate intracellular acidification (nonbicarbonate buffering capacity) corresponded with LDH activity. Enzyme activities in red muscle and heart did not show a consistent pattern with respect to fish activity. In comparison with ectothermic sharks, the mako shark had greater aerobic and anaerobic capacities in white muscle, but no significant differences were found in red muscle or heart. This pattern has also been found in teleosts. Thus, endothermic fishes elevate the temperature of red muscle, a tissue specialized for high aerobic performance, whereas white muscle biochemical characteristics are adjusted to support high rates of contraction both aerobically and anaerobically. Muscle enzymic activities of elasmobranchs and teleosts with comparable locomotor habits are similar, thus refuting the hypothesis that elasmobranchs are sluggish, with lower metabolic capacities than teleosts.