The vitellogenesis of Paraechinophallus japonicus (Yamaguti, 1934), the first pseudophyllidean tapeworm of the family Echinophallidae studied using transmission electron microscope, is described on the basis of ultrastructural observations of specimens from the benthopelagic fish Psenopsis anomala (Temminck et Schlegel, 1844) (Perciformes: Centrolophidae). The process of vitellogenesis in P. japonicus follows the same general pattern observed in other tapeworms. Five stages of vitellocyte development have been distinguished. The first stage corresponds to immature cells containing ribosomes and mitochondria. The second stage of development is characterized by the appearance of granular endoplasmic reticulum and Golgi complexes, formation of shell globules and lipid droplets at the periphery of the cell cytoplasm. Vitellocyte of the third stage presents accumulation of shell globules and lipid droplets. During the fourth stage, shell globule clusters are formed, and lipid droplets and rosettes of α-glycogen are accumulated. Mature vitelline cells are characterized by a great number of lipid droplets with glycogen in the centre of the cytoplasm, whereas shell globule clusters are situated more peripherally. The interstitial tissue of vitelline follicles of P. japonicus is syncytial with long cytoplasmic projections extending between vitelline cells. The presence of a large amount of lipid droplets in the vitelline cytoplasm within the eggs of P. japonicus may be related to egg accumulation in the uterine sac.