Lipid and microbial quality of smoked capelin (two groups differing in lipid content) and sardine was studied, with the aim of introducing capelin in the smoked sardine markets. Lipid hydrolysis (phospholipid and free fatty acids) and oxidation index (hydroperoxides and thiobarbituric acid-reactive substances), fatty acid composition, and total viable count were measured in raw and packaged smoked fish during chilled storage (day 2, 10, 16, 22 , 28). Lipid hydrolysis was more pronounced in low lipid capelin, whereas accelerated lipid oxidation occurred in high lipid capelin. Muscle lipid was less stable in sardine than capelin. Essential polyunsaturated fatty acids (eicosapentaenoic acid and docosahexaenoic acid) constituted 12% of fatty acids in capelin and 19% in sardine. Vacuum packaging as well as hot smoking retarded bacterial growth, recording counts of ≤log 5 CFU / g compared to ≥log 7CFU / g in cold smoked air packaged. Smoked low lipid capelin was considered an alternative for introduction into smoked sardine markets.