The blacktip grouper Epinephelus fasciatus is considered a valuable marine fish for aquaculture. This study was conducted to obtain information on its age of puberty, growth performance, gonadal development, sexual transition pattern, and plasma sex steroid levels from juvenile stage to maturity in specimens reared in captivity. The stages of gonadal development were identified by histological analysis, and plasma sex steroid levels were measured using an enzyme-linked immunosorbent assay. Our results show that maturation and spawning in blacktip groupers occurred at almost 3 years of age; although some females matured at 2 years. Plasma 17β-estradiol (E2) levels increased rapidly to high levels during puberty at 3 years of age, especially during the late stage of vitellogenesis at the tertiary yolk stage, and reduced at the ripe and ovulated stages prior to spawning. The gonadal somatic index also showed an increase consistent with the rise in plasma E2 levels. Plasma 11-ketotestosterone (11-KT) levels increased dramatically during sex change and in males. The significant decrease in plasma E2 levels and remarkable increase in plasma 11-KT were the key factors for the progress of sex change in these fish. Interestingly, there were the concomitant appearances of spermatocytes in ovaries of immature females at 1 year 3 months of age. The earliest appearance of sex-transitioning and male fish in blackfish groupers was observed at 2 years, although no mature females were observed below this age. This indicated that the sex change and male transformation in these fish took place without them undergoing the mature female stage. In conclusion, this species had the ability to reach puberty at 2 years of age, but most individuals matured and were functional at 3 years old. Puberty might be affected by age rather than size. In addition, although this species had a protogynous hermaphrodite pattern, when individuals born in the same year were reared together, some individuals were capable of directly becoming males without experiencing a mature female stage. This was due to the lack of socialization in captivity wherein individuals of various ages do not coexist, unlike that in the wild.