The mullet Mugil liza occurs along the Atlantic coast of South America from Venezuela to Argentina, but 95% of the commercial catch is collected from south Brazil between São Paulo and Argentina. Mugil liza is a single spawner with oocyte development occurring synchronously in two groups. Spawning happens in marine areas and occurs after migration. The reproductive migration occurs from Argentina (38° S) to the southern Brazilian states (24–26° S) from April to July, with peak spawning in June between northern Santa Catarina and Paraná. The presence of hyaline oocytes was associated with high salinity and sea surface temperatures of 19–21° C, and followed the seasonal northward displacement of these oceanographic conditions. The average size at first maturity (Lm) for both sexes was 408·3 mm total length, LT. Males (Lm = 400·1) matured earlier than females (Lm = 421·9 mm). Fecundity ranged from 818 992 to 2 869 767 oocytes (mean = 1 624 551) in fish that were between 426 and 660 mm LT.