Fishes require different types of live diet for their better growth, efficient breeding and survival. The live diets (live foods organisms) contain all the nutrients, such as: proteins, lipids, carbohydrates, vitamins, minerals, aminoacids and fatty acids. These diets are costly to produce, variable in quality and constitute a potential source of contamination with viruses and pathogenic bacteria. In recent years, a lot of effort has been made to developing the microencapsulated diets for cultured fish species. The microencapsulated diets for fish are highly complex as the microparticles must contain proteins, lipids, carbohydrates, vitamins and electrolytes. This review reports some aspects about several biological compounds that are suitable for microencapsulated fish diets. The development of the microencapsulated diets for cultured fish species is a relevant topic due to the economic impact of aquaculture.