Lipid oxidation, especially in marine products with high lipid concentrations, is a significant factor in the quality of the product deterioration. The large concentration of highly polyunsaturated fatty acids found in species makes fish particularly susceptible to this fundamental deteriorative process, even though it occurs in many different types of animal sources of food. The aim of the present study was to determine the changes in Peroxide Value and Thiobarbituric Acid Value (TBA) as chemical quality indices of lipid oxidation in whole Pampus argenteus from Visakhapatnam harbor during frozen storage at -20°C. Results obtained conclude that the temperature of storage should be lower than -20oC so as to maintain the limits of acceptability for a longer duration.