Age-related changes in ovarian development characteristics and plasma sex steroids in female Murray cod were examined throughout their second, third and fourth years of life to better understand the physiological and endocrine processes associated with puberty in this species in captivity. Spawning performance of 2+ and 3+ year old females was also assessed to identify ontogenetic differences in egg fertility. Puberty was acquired in 38% of 1+ year old females and 100% of age 2+ females. By age 3+, all females had developed full (adult) reproductive function. Ovarian development in pubertal fish was characterised by a rapid transition between cortical alveoli and lipid droplet oogenic phases, coinciding with significantly lower plasma 17beta-oestradiol in age 2+ females (p<0.05). Mean mature oocyte diameter (2.44 mm), post-fertilisation viability (30.80%) and hatchability (0.99%) of eggs from age 2+ females were significantly reduced relative to age 3+ adults (2.81 mm, 84.89% and 23.58%, respectively). Ovaries of pubertal Murray cod exhibited both vitellogenic and ovulatory capacities, yet functional abnormalities during secondary oocyte growth are likely to have contributed to poor egg fertility and consequently, evaluations of age-at-first maturity based on the presence of advanced ovarian stages may overestimate the reproductive potential of younger broodstock populations.