The aim of the study was to evaluate the influence of different dietary protein and lipid levels and their ratios on larval growth, survival and the incidence of cannibalism in Pseudoplatystoma punctifer. Larvae were raised in a recirculation system from 3 to 26 days post-fertilization (dpf) (2–25 days post hatching, dph) at an initial density of 40 larvae L-1, 27.8 ± 0.65°C and 0L : 24D photoperiod. Larvae were fed from 4 to 12 dpf with Artemia nauplii and weaned onto four different compound diets from 13 dpf within 3 days, then fed exclusively with these diets until 26 dpf. These diets contained 30 : 15, 30 : 10, 45 : 15 or 45 : 10 protein : lipid (P : L) (in % of dry matter) levels. A control group was fed Artemia nauplii until 17 dpf and weaned thereafter with the 45P : 10L compound diet. The experiment was carried out in triplicate. Results showed higher growth and survival rates and lower incidence of cannibalism in the group fed the 45P : 15L diet than in the other treatments. Differences in larval survival and growth performance were associated with the higher protein and lipid content rather than the protein : lipid ratio of this diet. When comparing diets with the same protein level, the increase in dietary lipid led to an improvement in growth, suggesting that energy from lipids spares protein for growth in P. punctifer fingerlings. An Artemia feeding period longer than 12 dpf did not improve larval growth or survival.