Failing to initiate first feeding during the transition from endogenous nutrition to exogenous feeding will lead to starvation of fish larvae. However, little is known about the mechanism of first feeding selection of fish. Golden mandarin fish larvae (3 d after hatch, 2.05 ± 0.03 mg) were fed with four different foods for 7 d, including the following: M – Megalobrama amblycephala (prey fish larvae as natural food); S – surimi of M. amblycephala; A – Artemia (zooplankton); and MA –mixed M. amblycephala with Artemia (mixed food). Larvae fed with the mixed food achieved an appropriate balance between high survival and good growth through elevating the expression of growth genes (GH, IGF‐I, and IGF‐II) and fatty acid synthesis genes (FAD and ELO). Growth performance of fish fed with MA reared at different salinities (0, 5, and 10 ppt) was examined. The salinity of 5 ppt produced the best growth performance of the three salinity levels tested. Fish larvae adapted to high‐ or low‐salinity environments through increasing the expression of lipolysis genes (HSL, LPL, and HL). Therefore, both food type and salinity affect the growth, survival, and lipometabolism of golden mandarin fish larvae during initial feeding stage, and mixed food and 5 ppt salinity improved its survival and growth.