Enzymatic hydrolysis of soy protein has the potential to be an excellent protein source in marine fish feeds. Here we assessed the effects of different inclusion levels of hydrolyzed soy protein (HSP) on growth performance, nutrient retention, body composition, and serum hormone levels in juvenile starry flounder to define HSP utilization. Five isoenergetic and isoprotein diets were formulated with 0 (control), 10, 20, 30, and 40% HSP (SP10-40) to replace 0, 25, 50, 75, and 100% soy protein concentrate (SPC), respectively. At the end of the feeding trial, fish fed diets SP20 and SP30 had significantly increased weight gain, percent weight gain, and feed efficiency (FE) compared with fish fed the control diet (P < 0.05). Diets SP20 and SP30 supported significantly higher levels of protein retention, and diet SP20 significantly increased energy retention (P < 0.05) in the fish offered these diets. In terms of nutritional composition of whole fish, feeding diets SP20 and SP30 increased crude protein content (P < 0.05) and diets SP10, SP20, and SP30 increased ash content (P < 0.05). Fish fed diets SP20 and SP30 had higher serum insulin-like growth factor 1 (IGF-1) level than that of the control treatment (P < 0.05). When SPC was included at 40% of the diet, 20-30% HSP (43% soluble nitrogen) is recommended to replace 50-75% SPC for maximal growth performance and FE of starry flounder.