Turbot juveniles (45 g) were exposed for 41 d (17 °C, 34‰ salinity) to constant normoxic (100–100% air saturation, 100–100) or moderate hypoxic (75–75% air saturation, 75–75) conditions and to repeated hypoxic shocks (20% saturation for 1 h, 5 d per week) from normoxic (100–20% air saturation, 100–20) or moderate hypoxic (75–20% air saturation, 75–20) conditions. A normoxic group was feed restricted (100-FR). Mass increase of 100–100 and 75–75 groups fed to satiation was not significantly different. In comparison, it was significantly lower in the 100–20 and 75–20 groups (NS between the two hypoxic shocks groups). Intermediate results were obtained in the 100–100-FR group. The lowest mass increase under hypoxic shocks was explained by a significant decrease in both feed intake and food conversion efficiency (FCE). FCE was lower in the two hypoxic groups, but only the 75–20 group was significantly different from all the other groups. There was no sign of stress and no change in the physiological status of fish in any group. When challenged, pre-conditioning of turbot to regular hypoxic shocks extended survival time, slightly but significantly, for 50% of the population. It was 8 h longer in starved than in fed fish. When reared for 1 year in normoxic water, the growth rate of post-challenged survivors was dependent on pre-conditioning: day 0–375 specific growth rate was significantly higher in the two groups acclimated to repeated hypoxic shocks. In the second experiment, it was shown that exposure to 20% air saturation for 12 h led to major physiological changes within 4 h: a significant decrease in plasma total CO2 and increase in plasma lactate contributing in maintaining blood pH stable, and a significant increase in osmolarity and chloride concentration. When returned to normoxic water, the recovery capacity of the fish was high: plasma osmolarity and total CO2 returned to pre-exposure levels within 1 h. The results are discussed in terms of turbot capacity to cope with repeated hypoxic shocks and to acclimate.