Bonefish (Albula vulpes L.) are a highly prized sportfish and part of a recreational fishery. Despite their economic importance, their populations in the Florida Keys and numerous locations in the Caribbean are in decline with much of their early life history and development undescribed. Using hormonal induction of A. vulpes, we successfully induced spawning and describe previously unknown stages of egg and larval development and lipid characterization and utilization for the species. Egg size increased following intraperitoneal injection of Carp pituitary extract as well as at spawning. Zygote and cleavage stages lasted 1 to 2 hours. The blastula, gastrula, and segmentation stages lasted 6 to 9 hours and the pharyngula stage lasted 2 to 4 hours and preceded hatching. Upon hatching at 26 hpf, larvae were morphologically primitive and had no mouth or teeth and the eye was undeveloped. Average total lipids in eggs, before fertilization, accounted for 171.2 µg mg-1 of wet mass. Eggs were characterized by high concentrations of storage lipids (e.g. wax esters-steryl esters (WE-SE) and triacylglycerol (TAG)) and structural lipids (e.g. phospholipids). During embryogenesis, WE-SE and TAG decreased and WE-SE was exhausted at 4 hph. Together, the results provide previously undescribed early developmental stages for A.vulpes and will help focus restoration efforts concerning the feasibility for artificial propagation of A.vulpes in hatcheries as a restoration tool.