The larval period in fishes has several definitions, each one deviating slightly from the other. Small discrepancies in the definitions, especially concerning the end of the larval period, can create misunderstandings when applied in practice. I examine the different definitions of a larva, the larval period, including metamorphosis, and the juvenile period. Various criteria used to identify the transition from the larval to juvenile periods are contradictory and refer mostly to the length of the larval period. Ignorance of definitions used to identify the juvenile period has caused many larvae to be regarded as juveniles. I discuss the feasibility of various definitions and the nomenclature on the basis of character evaluation. The occurrence of larval morphological characters, i.e. larval fin fold, differentiation of fins, temporary organs, absence of scale cover, non-adult like body proportions and pigmentation, is examined and some features are compared in eleven species. Irrespective of the different definitions of a larva, there are considerable differences in the schedule and duration of development in certain characters between species and, in terms of duration, also within species owing to environmental conditions. Ontogenetic processes seem to be sufficiently flexible to allow larvae to adapt to their environment, which on the other hand may also shape the phenotype. Determination of the environment in which a larva develops depends not only on the location of the spawning grounds but also on the dispersion of larvae. Dispersal strategies are examined in light of larval morphology and behaviour. After fin differentiation, the transition from larva to juvenile would seem to be best described by the dominant morphological changes in body proportions and coloration, combined with behavioural aspects and habitat changes. I suggest the differences and functional aspects of larvae be examined. The main character of larvae is that they are adapted to make use of resources not normally used by adults.