ABSTRACT. Initial development of Rhaphiodon vulpinus Agassiz larvae (Characiformes, Cynodontidae). The cynodontid fish Rhaphiodon vulpinus Agassiz, 1829, known as " peixe-cachorro", is lhe only species of the family occurring in the Pantanal of Mato Grosso. The initial development of its larvae was characterized, based on malerial collected with a 500 IJ m mesh size plankton-net, in several biotopes of the Pantanal of Barao de Melga~o, Slale of Mato Grosso, Central Brazil. The analysis was carried out with 72 larvae with slandard length (SL) between 4.7 and 13.8 mm. The morphometric measurements varied positively with standard length, and body proportions ranged 8.1-17.8% for head length (ffi.), 6.2-10.1% for body height, and 63.6-73.5%, 16.8-21.6%, and 61.8-78.2% SL, respectively for pre-dorsal, pre-pectoral and pre-anal distances. The eye diameter varied positively with HL and its proportion varied between 9.1 -22.5% HL. The body relations did not show great variation along the larval development. The morphological characterization of larvae from 4.7 to 5.8 mm SL, in the pre-flexion phase, showed the presence of an embryonic finfold covering the unrayed fins, exposed branchial arches , absence of exogenous digestive content, unpigmented eyes and round shaped head. Larvae with SL between 8. 1 and 13 .8 mm SL were in the flexion phase, presenting a pointed head, mouth filled with external and internal rows of numerous teelh, presence of exogenous food, pigmented eyes, branchial filaments still exposed, evident swimmi ng-bladder, and formation of the first caudal, dorsal and anal fins ' rays. Only individ uals in the pre-flexion and flexion phases were analyzed, and no completely developed fin was evidenced. A maximum number of 69 myomeres was counted and no evident pigmentation over the body observed. Comparing R.vulpinus larvae to those of other Characiformes, it was observed that this species and Apareiodo/l affillis Steindachner, 1879 present smaller body proportions , and variation range of body height , while R. vLlipiliLiS is characteri zed by a shorter eye diameter. The myomere number is a relevant feature for the identification of R. vuipiliLiS larvae, since it is the Characiform that possesses the highest myomere number, among those species of this family studied so far. KEY WORDS. Cynodontidae, Rlzaplziodoli vulpinus, larval development, ontogeny, morphomelrics o estudo da ecologia das fases iniciais do cicIo vital e da ontogeni a em peixes esta historicamente associ ado a biologia pesqueira e ao recrutamento de espec ies marinhas, principal mente daquelas de importancia comercial, sen do consideravel 0 volume de informa~6es sobre especies de agua salgada (BLAXTER 1984). Uma sinopse hist6rica e levantamento bibliografico podem ser encontrados em MOSER et at.