Suitable feeds and feeding regimes are crucial to hatchery success and are often complex and species-specific. This review considers the role of formulated feeds in aquaculture hatcheries and early production. It will focus mainly on fish (finfish) and crustacean aquaculture. Important aquaculture fish include species with either freshwater or marine hatcheries. In freshwater, commercial manufactured feeds are successfully fed at first-feeding to many important aquaculture species. Freshwater fish typically have large larvae with well-developed digestive tracts and include salmonids, tilapia, carp, and catfish. Almost all marine larvae require a period of feeding on live feeds and can only use manufactured feeds several days after first-feeding when the larvae have grown larger and have a more advanced digestive tract. The hatchery phase for important crustacean species is carried out in brackish or marine waters, and for all the important cultured crustaceans, prawns, crayfish, and crabs, hatcheries rely on live feeds at first-feeding and then co-feeding with manufactured feeds until the completion of the larval cycle. Different live feeds and manufactured feeds are introduced in relation to the changing nutritional physiology of larvae and postlarvae. Current hatchery feeding regimes are outlined for several key species selected to represent different taxa and aquaculture systems. Future developments and trends are suggested to include increased development and use of manufactured larval feeds, ultimately from first-feeding; tailored hatchery regimes to meet a wider range of grow-out options; increased focus on broodstock nutrition and increased use of formulated feeds; and nutritional programming.