L-carnitine serves as a critical regulator of fatty acid metabolism in fish, playing an indispensable role in their growth, development, and nutrient metabolism. In aquaculture systems, dietary L-carnitine supplementation has attracted considerable attention because of its potential to enhance growth performance, improve feed utilization efficiency, and optimize lipid metabolism. This article systematically reviews recent advances in the role of L-carnitine in fish growth regulation and lipid metabolism, with particular emphasis on its molecular mechanisms. Current findings demonstrate that L-carnitine has a positive effects on lipid metabolism regulation, primarily through activating the fatty acid β-oxidation pathway to facilitate long-chain fatty acid transport into mitochondria, thereby effectively modulating lipid metabolism. At a molecular level, L-carnitine exerts its physiological functions by regulating metabolic pathways such as the PPAR signaling pathway and the L-carnitine palmitoyltransferase (CPT) system. Despite the advances critical knowledge gaps remain regarding optimal dosage thresholds for different fish species, systematic evaluation of long-term supplementation effects, and precise molecular mechanisms-particularly its interactions with other nutrients. Moreover, recent studies indicate that excessive L-carnitine supplementation may cause metabolic disorders, reduce protein deposition efficiency, and even inhibit growth in certain fish species. These findings underscore the importance of considering species-specific differences, establishing precise dose-response relationships, and optimizing supplementation timing to fully understand L-carnitine potential. Such advances will provide a stronger scientific basis for precision nutrition strategies and the sustainable development of aquaculture.