Giant gourami Osphronemus goramy Lac. is one of the most important fresh water fish commodities with increasing production level every year. Water quality management through a proper water exchange both in quantity and quality can be one of the alternatives to support the elevating production. This research was conducted from July to August 2010 at the Aquaculture Production Technology and Management Laboratory, Department of Aquaculture, Faculty of Fisheries and Marine Science, Bogor Agricultural University. The juvenile used was 0.84±0.011 cm in length and 0.017±0.001 cm in weight which reared in nine units of aquaria with a size of 60×29×33 cm3. Silk worm was used as the feed and provided daily at satiation. Water exchange was performed twice a day at a level depending on the treatment, namely 75% (50% at morning and 25% at evening), 100% (50% at morning and evening) and 125% (75% at morning and 50% at evening) of total water volume. Water exchange at 75%, 100%, and 125%/day resulted in survival rates of 94.11±0.63%; 91.89±2.02%; and 93.89±0.75%; specific growth rates of 7.43±0.15%, 8.58±0.24%, and 9.97±0.18%. Growth rate in length of 1.06±0.06 cm, 1.33±0.04 cm, and 1.55±0.01 cm; coefficient of variation in length of 11.31±1.43%, 9.35±1.46%, and 6.90±2.30%; feed efficiency of 12.47±0.30%, 14.32±1.05%, and 19.67±0.54%. The financial benefits resulted of the process were worth of IDR.351,903.00; IDR.402,302.00; and IDR.464,715.00; whereas R/C ratio of 1.71; 1.80; dan 1.90; BEP of 1,845 unit, 1,645 unit, and 1,517 unit; payback period (PP) of 0.97 years, 0.85 years, and 0.74 years; and the cost production as much as IDR.79.90; IDR.82.70; and IDR.82.90/individual, respectively. The treatments were significantly different on several parameters, such as specific growth rate, length of growth rate, feed efficiency at p0,05). Laju pertumbuhan dan efisiensi pakan tertinggi (p<0,05) diperoleh pada perlakuan pergantian air 125%, yaitu laju pertumbuhan bobot 9,97±0,18%, pertumbuhan panjang mutlak 1,55±0,01 cm, dan efisiensi pakan 19,67±0,54%. Kelangsungan hidup benih ikan gurami berkisar antara 91,89‒94,11. Pemeliharaan benih ikan gurami dengan mengganti air 125%/hari juga memberikan keuntungan tertinggi, yakni Rp464.715,-. Dengan demikian, pendederan benih ikan gurami sebaiknya dilakukan dengan pergantian air 125%/hari.Kata kunci: pergantian air, kelangsungan hidup, pertumbuhan, ikan gurami