AbstractIn this study, we assessed the ovary structure and early oogenesis in representatives of Osteoglossomorpha, one of the most basal Teleostei groups. We aimed to perform a comparative analysis between internally fertilizing Pantodon buchholzi (Pantodontidae) and externally fertilizing Osteoglossum bicirrhosum (Osteoglossidae), Marcusenius cyprinoides, Brevimyrus niger, Gnathonemus petersii and Mormyrus rume (Mormyridae). Our results indicated differences in ovary structure between P. buchholzi and the externally fertilizing species, as well as a considerable disparity in oocyte organization in all studied species. All species possess ovaries of the cystovarian type. In P. buchholzi, the epithelium lining the lumen was columnar and formed crypts with ciliated and microvillus cells as well as deep invaginations with secretory cells, whereas in the remaining species epithelium was squamous. The organization of oogonia and one‐nucleolus oocytes did not differ between species, there were variations in oocytes at subsequent steps of primary growth, including symmetry/asymmetry of the inner cell structure, differences in Balbiani body formation, presence/absence of zonation of the ooplasm, and differences in the order in which cortical alveoli and oil droplets appeared. These differences may be caused by a long and separate evolution of the families as well as adaptation to insemination in the family Pantodontidae.