In this study, seasonal and spatial variations in physicochemical parameters of water and proximate composition of Macrobrachium macrobrachion from Badagry Creek and Ologe Lagoon were examined. Samples of water and M. macrobrachion were collected from both stations on a monthly basis for six months. The physicochemical parameters monitored were pH, temperature, total suspended solids, total dissolved solids, total solids, total alkalinity, free carbondioxide, conductivity, salinity, dissolved oxygen, biochemical oxygen demand, ammonia and turbidity, while the proximate composition parameters were moisture content, crude protein, crude fibre, carbohydrate, crude lipids and ash. It was observed that alkalinity, salinity, dissolved oxygen, temperature and ammonia determined for both sample stations were within recommended limit of Food and Agricultural Organization, except pH for Badagry creek. There was no significant difference (p > 0.05) in seasonal variations of most physico-chemical parameters in both stations except for pH in Ologe lagoon, and electrical conductivity (EC), total dissolved solids (TDS) and total solids (TS) in both stations. Also, with the exception of EC, TDS and TS, there was no significant difference for spatial variation of physico-chemical parameters between the two stations. Moisture content, lipid and ash contents showed significant seasonal variation in Ologe lagoon, while crude protein and crude fibre recorded no significant difference. For Badagry creek, with the exception of moisture content, all other proximate composition parameters showed significant difference. However, there was no significant spatial variation in proximate composition between the prawns in Ologe lagoon and Badagry creek. There were gradual effects of season on water quality and proximate composition but these effects still support growth and survival of the prawn. However, regulatory measures should be put in place to protect these water bodies from direct/indirect human activities that can cause adverse damages.