Freshwater prawn, Macrobrachium dayanum were subjected to acute concentration, 116.46 mg/l (96 hr LC50 value) and sub-acute concentration, 29.12 mg/l (25% of 96 hr LC50 value) of lead nitrate to evaluate its effects on oxygen consumption. Initial increase in oxygen consumption was noticed which was followed by gradual decrease up to 96 hr in acute exposure while significant (F = 20.33; P < 0.001) decrease in oxygen consumption was noticed through out the experiment during sub-acute exposure up to 30 days. Mechanism of lead intoxication and potential of oxygen consumption as bio-marker has been discussed.