Abstract: Antioxidant and antifatigue effects of Pegasus laternarius water extract and alcohol extract were investigated. The antioxidant effects were evaluated by measuring the DPPH· clearance rate,the inhibitive rate of β-carotene fading and the FRAP value,the antifatigue effects were evaluated by measuring the rotarod lasting time,the forced swimming time,hepative glycogen content,muscle glycogen content,blood glucose level,blood urea nitrogen(BUN)level and blood lactate level. The DPPH· clearance rate IC₅₀ of alcohol extract was 1.22 mg/mL,β-carotene fading inhibitive rate IC₅₀ was 1.18 mg/mL,and the FRAP value was 383.35 μmol/g. Aqueous extract significantly(p<0.01)improved rotarod time up to(61.81±8.57)s at 400 mg/kg,and increased forced swimming time at 400 mg/kg. Aqueous extract also significantly(p<0.01)increased the hepative glycogen content up to(17.84±4.52) mg/g,stabilized(p<0.05)blood glucose level at(9.24±1.17) mmol/L,reduced(p<0.05)BUN level down to(7.92±0.57) mmol/L,reduced(p<0.01)blood lactate level down to(3.76±0.41) mmol/L.The aqueous extract did not show significant antioxidant effect,and the alcohol extract did not show significant antifatigue effect. The two extracts were complementary so that the moth fish extract had the potential to develop into a corresponding functional nutritional supplement.