Circadian rhythms play a critical role in fish development and daily activities. Although a major circadian "master" clock, like the SCN of mammals, has not yet been identified in fish, indirect evidence suggests that a light-entrainable oscillator is present in fish brain. Furthermore, the structural and functional design of fish circadian systems is remarkably complicated. Photosensitive CNS-related clock organs (the pineal gland and retina), peripheral photosensitive tissues with autonomic circadian clocks, and presumed food- or temperature-entrainable circadian oscillator(s) all make for complex circadian machinery that must remain well coordinated and still be able to ensure physiological adaptation to a periodically changing environment. Such a multilevel structure of partially independent oscillators may explain the high interspecies variability observed in piscine circadian systems and substantial individual plasticity in fish behaviour and physiology. Studying these features will continue to contribute to a better understanding of the principal mechanisms involved in circadian clock functions. Data accumulated so far show that rest in fish has fundamental similarities to the behavioural manifestations of sleep in higher vertebrates. Analogous to sleep in mammals, fish show a compensatory rest rebound, reducing locomotor activity and increasing arousal thresholds after a period of rest deprivation, suggesting that fish exert a homeostatic control on rest behaviour. Furthermore, rest in fish is regulated by the circadian system, because periodic reduction in locomotor activity and increase in arousal threshold are maintained in constant darkness and occur during the subjective night. These observations, together with the hypnotic effects of melatonin and sleep-inducing agents of the benzodiazepine and barbiturate families, indicate that rest behaviour in fish can be considered a sleeplike state. Studying sleep in fish may prove to be very productive in deciphering both the enigmatic function and the physiological mechanisms of sleep.