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The requirements to rear spotted wolffish, Anarhichas minor, a cold water, demersal fish, native to the north Atlantic Ocean, have been developed over the past 25 years (since 1990s) and it now is commercially produced in one fish farm in Norway with additional plans for commercial development in the near future in Quebec, Canada. Spotted wolffish have numerous attributes that make them a desirable species to culture in the United States including, but not limited to: having a high value; desired by consumers and chefs; not supplied by U.S. or Canadian fisheries; an established broodstock available in neighboring Quebec; well‐developed hatchlings that do not require live feed; high rearing density tolerance; and low disease susceptibility. Here, we review the advancements made in broodstock management and spawning, egg incubation, juvenile rearing, and on‐growing of fish, as well as future research and development needs. Areas requiring further focus include reducing variability in gamete production; nutritional studies at all life stages; health expertise; genetic selection; and further refinement of standard operating procedures at the commercial level for all life‐stages. Given the state of advancement of wolffish cultivation and the existence of a commercial operation in Norway, we propose that spotted wolffish is commercially ready for production in the United States with the primary barrier being a steady source of eggs to supply emerging pilot‐scale or commercial operations. [ABSTRACT FROM AUTHOR]