Mercury (Hg) is a potent toxin that biomagnifies in aquatic food webs. Large fish generally have higher Hg concentrations than small fish of the same species. However, models predict that fish that grow large faster should have lower Hg concentrations than small, slow-growing fish due to somatic growth dilution (SGD). We examined the relationship between Hg concentrations and growth rate in fish using a large-scale field experiment. Atlantic salmon (Salmo salar) fry hatched under uniform initial conditions were released at eighteen sites in natural streams, collected after one growing season, and Hg concentration and growth measured. As expected for Hg accumulation from food, mercury concentrations in salmon tracked Hg concentrations in their prey. Nonetheless, large, fast-growing salmon had lower Hg concentrations than small, slow-growing salmon, consistent with SGD. While prey Hg concentration accounted for 59% of the explained variation in salmon Hg concentration across sites, salmon growth rate accounted for 38% of the explained variation independent of prey Hg concentration. A mass-balance Hg accumulation model shows that such SGD occurs when fast growth is associated with high growth efficiency. Fish growth is tremendously variable and sensitive to anthropogenic impacts, so SGD of Hg has important implications for fisheries management.