Viviparity is an advanced reproducing process observed in certain bony fishes. Fish oocyte is protected by different coverings, the immediate one over oolemma being a non-cellular membrane known as Zona Radiata (ZR). ZR has shown variations in thickness, configuration and probably function at different fish oocyte and oocyte growth stages. In the present research work the ultrastructure of zona radiata around oocytes of guppy (Poecilia reticulata) has been studied by light and scanning electron microscopy methods concerning different oocyte growth stages. ZR was not observed at stages I and II. At stage III ZR was observed as a thin layer around the oocyte. It increased in thickness and complexity at stage IV (vitellogenesis) but showed different appearance and declined in thickness during the following stage. External surface characteristics, features of pore canals and probable function of ZR during oocyte development were also investigated.