The present work describes the histological changes in the hepatopancreas of Palaemonetes argentinus during the moulting cycle. The hepatopancreas of individuals at different moult stages were dissected and studied using histological techniques. The hepatopancreas in intermoult presents four typical cell types (E, F, R and B) and follows the general plan of the rest of decapods. During early premoult (D1), there is an important secretory activity and many R-cells have several subapical vacuoles and are highly columnar. In early postmoult (A), B-cells are confined to the proximal zone of the tubules. Some of the tubules show a folded basal lamina in late premoult and postmoult. Degenerative desquamation occurs at the proximal zone of the tubules in all the stages, this zone being replenished by mitosis of E cells. Mucopolysaccharides and glycogen reserves are more abundant in premoult than in the rest of the cycle. Cellular height increased in premoult and decreased towards the intermoult, stage of more stability. R-cells are the most abundant, and F-cells do not change significantly through the cycle. The observations suggest that the hepatopancreas of P. argentinus undergoes a significant dynamic and cellular turn over rate in relation to moult.