Strontium (Sr) and calcium (Ca) contents and Sr/Ca ratios in otoliths of pikeperch Sander lucioperca have been studied by X-ray fluorescent microanalysis. A sample of 95 specimens from the Lower Volga region are studied. The fish were obtained in a section of the Akhtuba River at a distance of 250–279 km upstream from the Caspian Sea. Some specimens in the sample have low strontium content throughout the otolith. The other fish have increased both Sr content and Sr/Ca ratios in core zones of otolith or near its outer edge: the Sr/Ca ratio is over 6.00 × 10–3, with a maximum at 10.02 × 10–3. The fish with a low Sr/Ca ratio live in freshwater and demonstrate a resident life history strategy. Pikeperch that have increased ratios of Sr/Ca in outer zones of otolith demonstrate a migratory life history strategy. These fish leave the freshwater of the Volga and feed in brackish water of the Northern Caspian Sea. Some migratory fish migrate to the sea as underyearlings, stay in a brackish water for 1 year or less, and then return back to fresh water for the rest of its life. The other group migrates back and forth from freshwater to the sea several times during their life. Finally, some fish leave freshwater for 1–2 years, spending this time in the Northern Caspian Sea. The conclusion is that the pikeperch stock in the Lower Volga has a complicated composition and consists of freshwater (residents and rheodromic ones) and migratory (anadromous and semianadromous) fish.