AbstractJuvenile Atlantic cod Gadus morhua (initial weight = 24.1 ± 1.4 g [mean ± SE) were fed diets in which fish meal (FM) was replaced with soy protein concentrate (SPC) and soybean meal (SBM) in isonitrogenous, isocaloric diets for 84 d. A standard marine finfish diet (3 mm, 54% protein, 14% fat) was modified to produce four experimental diets in which 50% of FM was replaced with soy at 0:1, 1:1, or 1:2 ratios of SPC:SBM and 100% FM replacement with a 1:1 ratio of SPC:SBM. No differences in mortality or feed intake were detected among treatments, and fish fed the 50% FM replacement diets, in any combination, grew as well or better than the control for all variables investigated. Cod fed the 100% FM replacement diet exhibited the lowest growth and differed from the control with respect to final body weight, growth, specific growth rate, and thermal‐unit growth coefficient. No enteritis was observed in histological sections. These results indicate that 100% fish meal replacement is not recommended, but 50% replacement can be used without significant reductions in growth or condition indices.