Marine heatwaves (MHWs) are extreme weather events featuring abnormally high seawater temperature, and expected to increase in frequency, duration and severity over this century. The impacts of these phenomena on physiological performance of coral reef species require understanding. This study aimed to evaluate the effects of a simulated MHW (category IV; ΔT = +2 °C, 11 days) (after exposure and 10-day recovery period) on fatty acid (FA) composition (as a biochemical indicator) and energy budget (i.e., growth, G, excretion (faecal, F and nitrogenous losses, U), respiration, R and food consumption, C) of a juvenile tropical surgeonfish species (Zebrasoma scopas). Significant and different changes were found under MHW scenario for some of the most abundant FA and respective groups (i.e., an increase in the contents of 14:0, 18:1n-9, ΣMonounsaturated (ΣMUFA) and 18:2n-6; and a decrease in the levels of 16:0, ΣSaturated (ΣSFA), 18:1n-7, 22:5n-3 and ΣPolyunsaturated (ΣPUFA)). The contents of 16:0 and ΣSFA were also significantly lower after MHW exposure compared to control (CTRL). Additionally, lower feed efficiency (FE), relative growth rate (RGR) and specific growth rate in terms of wet weight (SGRw), as well as higher energy loss for respiration were observed under MHW exposure conditions in comparison with CTRL and MHW recovery period. The energy proportion channelled for faeces dominated the mode of energy allocation, followed by growth in both treatments (after exposure). After MHW recovery, this trend was reversed, and a higher percentage was spent for growth and a lower fraction for faeces than in the MHW exposure period. Overall, FA composition, growth rates and energy loss for respiration of Z. Scopas were the physiological parameters most influenced (mainly in a negative way) by an 11-day MHW event. The observed effects in this tropical species can be exacerbated with increasing intensity and frequency of these extreme events.