In order to find an alternative source for the highly fatty acids oil with lower cost, a marine trash fish Sufflaman capistratus has been analyzed and characterized. The experimental oil sample was extracted from the liver sample by using Bligh and Dyer method. The yield of the oil content was estimated as 58.46 ± 0.32%. Then this crude oil was purified. The physicochemical properties such as acid value, free fatty acid, peroxide value and a saponification value of the crude and purified oils were determined. Fatty acid profile of both crude and purified oil samples was varied much, for instance, the PUFA content of crude oil was 33.83%, whereas it was observed as 31.32% in purified oil. Further, the purified oil was enriched with different concentrations (0.25, 0.50 and 0.75%) of the lipase of B. cereus MSU AS through hydrolysis process at 37ºC for 24h of incubation. From the lipase - mediated hydrolysed liver oil, the PUFA concentrate especially DHA and EPA were separated by preparative HPLC. Detailed results on the production of PUFA concentrates from trash fish Sufflaman capistratus liver oil through Bacillus cereus MSU AS lipase catalysis are discussed here with.