Since 1978, the policy of aquatic product supply and marketing has changed greatly. Now 20 years have passed. The circulation market of aquatic products under market economy was not established totally. In the very paper, the circulating channels and amount of aquatic products in Shanghai are discussed. The circulating structure and consumptive characteristics of aquatic products marketing in Shanghai are also studied. The survey shows there are serious problems, such as obvious separation of consumer market from productive area ones, small scale wholesale market, inordinate competition between markets and undeveloped information processing sysytem of aquatic products price, in the circulation market of aquatic products in Shanghai. After China became the member of World Trade Organization, the circulation market of aquatic products in Shanghai will face serious challenges.