The objective of this study was to evaluate the feeding management of pacu juveniles (P. mesopotamicus) under different feeding rates and its relation with productive performance, body composition and hematological characteristics. A total of 300 fish with initial weight of 84.75±4.52 g were distributed in a completely randomized design composed of four treatments (100, 90, 80 and 70% of feed supply) and five repetitions. The amount of feed was stipulated according to the quantity supplied in the treatment until apparent satiation (100%) of the day before. The decrease in the feeding rate to 70% over satiation apparently improves the apparent feed conversion without harming performance, body composition or biochemical and hematological characteristics of pacu juveniles reared in net cages. © 2012 Sociedade Brasileira de Zootecnia.