Summary Aquatic products are one of the most important foods with plenty of high‐quality protein, unsaturated fatty acids (EPA, DHA), a variety of minerals and other essential nutrients. However, the bad smell of fish, such as fishy smell and earthy smell, restricts its production and consumption. The main fishy odour substances from freshwater fish and marine fish are different. The geosmin and 2‐methylisobomeol are the main compounds in freshwater fish, and aldehydes, alcohols and ketones are found in most marine fish. The odour compounds can come from environment like water, feed and alga, enzymolysis and oxidative reactions of protein and lipid. Thus, it is necessary to remove or inhibit odour by managing farming environment like improving water quality, using physical method like adding some substance to cover the bad smell and using some chemical or biological method to prevent enzymolysis or oxidation. Therefore, knowing the composition of fishy substances and understanding their production pathways will play an important role in suppressing fishy substances and improving the competitiveness of consumer production. Besides, it could provide new ideas for innovative deodorising methods.