Global aquaculture production has increased in recent years and it is predicted that aquaculture will provide the most reliable supply of seafood in the future. However, there are many controversial issues in aquaculture regarding food safety, nutrition, and sustainability; many of which are directly related to the nutrition and feeds for farmed fish. These nutrition-related issues must be considered in order to achieve balance in safe and nutritious food production and sustainability in aquaculture. This review highlights recent studies and discusses new and innovative aspects in fish nutrition. Some issues in the area of fish nutrition require consideration and improvement, such as: feed and nutrient efficiency, overfeeding and waste, fish meal and fish oil replacements, fish health, biotechnology, and human health concerns. The findings reviewed in this manuscript demonstrate promise toward improvement of the aquaculture industry through nutrition. This review is an update in fish nutrition research, and provides insight on the progression and evolution of this field in order to meet the needs of the industry with the purpose to achieve a balance in seafood production and environmental sustainability. The outcome of this review encourages the use of biotechnology as a tool to meet seafood production and environmental sustainability, in order to ensure global food security in the future and to improve our resource use.