The development and growth of Janaira gracilis are described and discussed. The sampling was carried out once a month from January 1972 to January 1973 at the pier of Base Norte, Instituto Oceanográfico USP, Ubatuba, State of São Paulo. Four distinct marsupial stages were disclosed in the development of Janaira gracilis as well as 9 distinct postmarsupial stages for the females and 10 for the males. Every postmarsupial instar can be distinguished by morphological features, such as first antennae articles, first and seventh pereopod, first and second pair of pleopods and the oostegites. During the course of development females undergo less morphological changes than males. Considering the final stages, in average males are larger than females. It is suggested that the decrease in growth of females may be related to the crescent energy demand for reproduction. Males reach sexual maturity before females.