The aim of this study was to investigate the effects of feeding systems on the growth performance of Santa Inês x Dorper lambs, meat quality, fatty acid profile, and gene expression. Thirty lambs at an initial body weight of 22.6 ± 2.59 kg were randomly assigned to one of three feed systems: a grazing system with 1.2% body weight concentrate supplementation (GS); a feedlot system with 28% forage and 72% concentrate (FFC); or feedlot with 85% whole corn grain and 15% pellets (FHG). The lambs were slaughtered after 60 days of experiment. Average daily gain, glucose, and insulin concentration were higher for lambs on FHC than lambs on a GS feeding system. The fatty acid profile in the meat of the lambs fed GS showed a higher proportion of c9t11-C18:2, C20:5, C22:5, and C22:6 compared with FFC and FHC (p < 0.05). Meat tenderness was lower for lambs under FFC treatment compared with GS and FHG. FHG treatment provides better performance and higher deposition of lipid content in meat compared with GS and FHG. The expression of the genes SCD-1, SREBP1-c, and EVOL6 was greater in lambs undergoing GS and FHC treatments compared with FFC. Results of this research showed a reduced performance of grazing lambs compared with the feedlot system; however, it enhanced the fatty acid profile with increased levels of polyunsaturated acids and reduced n6/n3 ratio.