[Objective] This study aimed to observe the embryonic development of the F1 hybrid between Ryukin (♀) and Dragon-eye (♂). [Method] Embryonic development of the FI hybrid and parents between Ryukin (♀) and Dragon-eye (♂) was observed with XTL-2400 anatomical lens continuously. The organ characteristics and structures at each development stage were observed with OLYMPUS CKX41 microscopes, and photographed and recorded with a digital camera. [Result] At a water temperature of 25℃, the hatching time of the F1 hybrid is 51.3 h, the hatching time of Ryukin embryo is 52.4 h and that of Dragon-eye embryo is 56.3 h. [Conclusion] This study provides certain theoretical and practical basis for improving morphological characteristics of the existing Dragon-eye goldfish.