Octopus vulgaris is a potential candidate to diversify marine aquaculture. Even though mortality under rearing conditions has been related to reproductive processes, the benefit of sex segregation remains unclear. In order to clarify this, wild octopuses (862 ± 101 g) were reared in floating cages under three proportions of male : female sex ratio: 1:1, 1:0, and 4:1 (n = 30 per treatment). The experimental period lasted 2 mo and octopuses were fed on bogue, Boops boops (aquaculture by-product). Higher growth rates were observed in octopuses reared under 1:1 and 1:0 (1.8%/d) in comparison with those reared under 4:1 conditions (1.6%/d). Regarding sexes, a lower growth was detected in females reared under 4:1 (1.1%/d) in comparison with females (1.8%/d) and males (1.7–1.9%/d) reared under 1:1 conditions. Survival was 97, 97, and 90% in sex ratio 1:1, 1:0, and 4:1, respectively. Sexual maturity data showed that males were all mature, while most females were still maturing (60–84%) at the end of the rearing period. High lipid content in bogue (44% dw) did not reflect on octopus muscle. This tissue showed a similar biochemical composition irrespective of the sex ratio condition, with a high protein (87% dw), a low lipid (5% dw), and a high n-3 HUFA content (42%).