Four different types of fish meals were prepared with different quality namely Grade I, II, III and IV. Initial quality of different fish meals were studied and further the effect of antioxidant on the quality of stored fish meal were studied and the changes of microbial and biochemical quality due to lipid oxidation were noted. After the analysis of fish meal quality, all the four different types of fish meals were divided into two portions, one was treated with ethoxyquin (150 ppm/ kg) and the other was untreated and then each portion was stored under ambient temperature for 6 months. The results showed interaction between two types of fishmeal supplemented with or without ethoxyquin, at 27- 32oC on Peroxide value (PV), free fatty acid (FFA), Thiobarbituric acid (TBA), volatile amines (TMA-N, TVB-N) and moisture content values increased. During the storage period at ambient temperature for 6 months, the quality indicators revealed with higher percentage of spoilage in nonethoxyquin fishmeal. Microbiological parameters showed drastic variation among the four different fish meals under experimental condition. Supplementation of fish meal with Ethoxyquin (150 ppm/ kg antioxidant) stored at 37oC significantly (p<0.05) improved the stability of meal against fat oxidation.