A feeding trial was conducted to investigate the effects of the replacement of dietary fish meal and fish oil with oilseed meals (soybean or canola) and canola oil on growth, nutrient utilization, body composition, diet digestibility and hematological parameters of rainbow trout (Oncorhynchus mykiss). Seven diets were formulated; the control diet contained fish meal and fish oil as the main protein and lipid sources. For the experimental diets, 40% of fish meal protein was substituted with soybean meal, canola meal or a soybean/canola meal mixture, and these diets contained fish oil as the lipid source. Three additional diets were formulated with the same vegetable protein meals but with fish oil replaced by canola oil. Fish were fed twice daily to apparent satiation for 11 weeks. The results of this experiment indicated that when diets contain either fish oil or canola oil, canola meal and soybean meal can be incorporated into rainbow trout feeds at a combined 32% inclusion level (replacing 40% of fish meal protein) without inducing significant negative effects on growth, nutrient utilization or health.