Two 70-day feeding trials were conducted to reevaluate the necessity of cholesterol supplementation in diets of two important marine fish species, turbot and tiger puffer. Graded levels (0, 0.5, 1.0, 2.0, and 4.0% of dry matter) of cholesterol were added into the basal diet (with 30% fishmeal but no fish oil) to make five experimental diets, which were designated as control, CHO-0.5, CHO-1.0, CHO-2.0, and CHO-4.0, respectively. The dietary cholesterol concentration was measured to be 0.11%, 0.65%, 1.10%, 2.32%, and 4.59%, respectively. Each group had triplicate tanks, and each tank was stocked with 30 fish. The results showed that compared to the control, dietary cholesterol supplementation had no significant effect on the growth of both turbot and tiger puffer. Nevertheless, excess dietary cholesterol (CHO-2.0 and CHO-4.0) led to significant lower weight gain of tiger puffer compared to CHO-1.0. The feed intake decreased with increasing levels of dietary cholesterol. In general, the cholesterol supplementation decreased the crude lipid content in the liver, whereas 0.5% dietary cholesterol supplementation tended to increase the crude lipid content in the muscle of both species. Dietary cholesterol supplementation significantly regulated the lipid-related biochemical parameters in serum, liver, and muscle, and compared to turbot, tiger puffer lipid compositions had a higher buffering capacity in response to changes in dietary cholesterol level. Dietary cholesterol supplementation increased the 20:4n-6 content in the liver. Dietary cholesterol supplementation significantly downregulated the gene expression of HMG-COAr, upregulated the CYP7A1 expression, and downregulated the expression of lipid absorption and biosynthesis genes, but had no significant effect on gene expression of CPT1 and lipid transport-related genes (ApoA1, ApoA4, ApoB100, and ApoEα) in the liver. In conclusion, under the present experimental condition, dietary cholesterol supplementation had no significant effect on the growth of turbot and tiger puffer. In both species, dietary cholesterol supplementation significantly regulated the lipid accumulation and metabolism.