In most teleosts, appropriate sexual behaviors and sexual maturation are essential for reproductive success. Most fish display their unique behavioral patterns for mating. These behaviors are thought to be regulated in the brain by sex steroid hormones since sexual behaviors are displayed only by sexually mature fish. In addition, recent studies have reported that neuropeptides, which are peptides released from neurons and modulate neural activities via their specific receptors in the brain, also play a key role in regulating sexual behavior. On the other hand, not only sexual behavior but also feeding behavior is important for reproductive function since sexual maturation requires sufficient nutrition. Especially feeding-related peptides, a type of neuropeptides, are thought to modulate feeding behavior. Thus, it is conceivable that neuropeptides are crucial modulators in the brain for reproductive success. This review summarizes recent advances in the knowledge of the neuromodulatory systems involved in sexual and feeding behaviors by neuropeptides and gonadal hormones.