Understanding the spawning and rearing habitats of fishes is critical to effective fisheries management and conservation. Longfin smelt Spirinchus thaleichthys is an imperiled migratory fish that is believed to spawn and rear in habitats of varying salinities; however, optimal conditions for each stage remain unknown. Here, we examined the effects of variation in salinity on egg fertilization, hatch success, and larval growth and survival. Eggs that were fertilized in freshwater (0.4 ppt) exhibited a significantly higher fertilization rate (81%) than those fertilized in brackish water (62% at 5 ppt), with no detectible effects of fish origin or female size. In contrast to fertilization rates, once the eggs were fertilized, their hatching rates were not affected by the fertilization salinity, incubation salinity, nor their interaction; however, hatching success and larval survival both increased with increasing maternal body mass. Larval growth rate appeared to be independent of salinity and maternal size. Taken together, the results indicate that fertilization is possible at a range of salinities, but optimal at lower salinities for longfin smelt; however, embryos and larvae can perform well across a range of salinities. Furthermore, results indicated that larger mothers produced high-quality offspring, a finding that supports the “bigger is better” paradigm in fisheries science and management. These results likely explain, in part, the spawning and rearing behaviors of wild longfin smelt and suggest that the conservation culture program would likely be optimized by utilizing freshwater fertilization and larger females as broodstock.