Ultrasonic treatment (UT) was used to thaw large yellow croaker in this study, and the effect of various ultrasonic power levels on the quality of large yellow croaker was evaluated after thawing. The effects of ultrasonic on water holding capacity (WHC), moisture distribution, thiobarbituric acid-reactive substance (TBARs), total volatile base nitrogen (TVB-N), ATP degradation (related to K value), surface color change, free amino acid (FAA) content, total sulfhydryl group (SH) content, Fourier transform infrared absorption spectra (FT-IR), fluorescence emission spectra, and microscopic observations of large yellow croaker myofibrillar proteins were investigated. The thawing times of the control sample, 200UT, 240UT, 280UT, and 320UT samples were 1750, 1190, 810, 580, and 570 s, respectively, which indicated that ultrasonic radiation could improve thawing efficiency. Additionally, ultrasonic thawing maintained better freshness and color and inhibited lipid oxidation. Compared with fresh samples, the TVB-N of large yellow croaker thawed by ultrasonication increased by 12.68%, and the K value increased by 0.9%. The 240UT sample had tightly arranged myofibrils and fewer changes in the structures of myogenic fibrillar proteins than the fresh samples, and the SH content of 240UT was decreased by 8.17%. Use of excessive ultrasonic power (320 W) damaged the protein microstructure and the microstructure of large yellow croaker. In conclusion, sample 240UT maintained the quality of large yellow croaker better with minimal damage, which is recommended for rapid thawing.