This study investigated the effects of 100 g/kg increments of crude protein (approx. 250 (P25) to 550 (P55) g/kg of crude protein) in paired iso-energetic diets on the growth performance of the juvenile Australian short-finned eel (1·83 (s.e. 0·01) g average wet weight). The highest growth response was obtained with treatment P45 followed by P35, P55 and P25. It appeared that food efficiency ratio (FER) increased with increasing crude protein content in low energy diets (treatments P25 and P35). However, 100 g/kg increase in dietary crude protein content (from 450 to 550 kg crude protein per kg diet) in high energy diets resulted in lower FER for treatment P55 than for the treatment P45. The protein efficiency ratio (PER, %) was higher in low protein:low energy diets (treatments P25 and P35) than that of high protein:high energy diets (treatments P45 and P55). The protein productive values (PPV, %) for treatments followed a similar trend to PER in this experiment. The lowest PPV was obtained by the treatment P55 and it was significantly different from that of the other three treatments. A proportional increase in dietary crude protein content in paired iso-energetic diets did not significantly change the whole body protein content. However, a small increase in whole body protein content with increasing dietary crude protein in each group was detected. In conclusion, the present study showed protein sparing effects of lipids and carbohydrates in the diets of the short-finned eel. Further studies specifically investigating the effects of dietary carbohydrate to lipid ratios at different protein levels would improve diet formulation and reduce nutrient impact in intensive recirculation systems.