The paguara Chaetodipterus faber (Broussonet, 1782) is a species of economic importance in the South Caribbean. Juveniles were collected near sandy beaches of Margarita Island (Venezuela) and maintained in pompano cage cultures until they reached maturation of their gonads. Adults were selected and spawning was induced by means of gonadotropin hormones. The eggs of Chaetodipterus faber are spherical, transparent and bouyant, with a diameter of 0.9 - 1.1 mm and a single globule oil of 0.25 - 0.35 mm diameter. Hatching of C. faber eggs took place within 26 h at temperatures of 24.5 - 28.5°C (31-32 h at 20-23.5°C) and salinities between 37.5 - 38.5°/oo. Newly hatched larvae vary in length from 1.9 to 2.1 mm and have a yolk sac of 1.1. - 1.3 mm in total length which is deploted after two or three days. The larval phase was completed 25 days after hatching. Juveniles 45 days old have 17.17 ± 1.75 mm in total length and weigh 0.21 + 0.07 g. Development of eggs and larvae are described.