Mitosis-promoting factor (MPF) is a complex formed by cyclin B (cyclin B) and cyclin-dependent kinase (cdc2). To investigate the role of MPF in the reproduction of Exopalaemon carinicauda, we cloned its full-length cDNA of the Ec-cyclin B and Ec-cdc2 genes. We analyzed their molecular characteristics and expression profiles during ovarian and embryonic development. The results showed that the Ec-cyclin B gene was 1194 bp long and encoded a 397 amino acid (aa) long protein. However, Ec-cdc2 was 900 bp long, which encoded 299 aa with a conserved cyclin binding motif PSTAIRE. The phylogenetic tree analysis showed that Ec-cyclin B had the highest homology with the cyclin B of Macrobrachium rosenbergii (81.06%). In comparison, Ec-cdc2 had the highest homology with the cdc2 of E. modestus (96.80%). Ec-cyclin B showed the highest expression in the ovary, whereas Ec-cdc2 was the highest in the hepatopancreas, followed by the ovary. In the five stages of ovarian development, Ec-cyclin B and Ec-cdc2 expression levels reach the highest at stage Ⅴ(p < 0.05). Overall, the expression of these two genes first increased and then decreased at different embryonic developmental stages. Therefore, these findings suggested that cyclin B and cdc2 played an essential role in the ovarian and embryonic development of E. carinicauda.