The relative shortage of fishmeal is challenging the sustainable development of aquaculture industry. A 56‐day feeding trial was conducted to evaluate the efficacy of fishmeal replacement by poultry by‐product meal (PBM) in juvenile obscure pufferfish. The basal diet with 45% (dry matter) fishmeal was used as the control diet, and in the four experimental diets PBM was added into the control diet to replace fishmeal at the level of 15% (PBM15), 30% (PBM30), 45% (PBM45) and 60% (PBM60) respectively. Each diet was fed to triplicate tanks, each of which was stocked with 30 fish. PBM30 did not significantly affect the growth performance, nutrient apparent digestibility coefficient, proximate composition, amino acid profile, muscle texture and serum biochemical indices (p > 0.05). PBM45 did not significantly (p > 0.05) affects the weight gain, but reduced the feed efficiency ratio (p < 0.05). PBM60 resulted in significantly reduced fish growth (p < 0.05). PBM‐supplemented diets resulted in lower contents of long chain‐polyunsaturated fatty acid in the liver, but higher deposition of C18:1n‐9 and C18:2n‐6 in experimental fish (p < 0.05). In conclusion, replacing 30% fishmeal with PBM in the diet did not compromise the growth performance, feed utilisation, health status and muscle texture of farmed obscure pufferfish.