The long desired self-sufficiency in national and grass-root fish production is momentous to food security in Nigeria. The nature and patterns of feed utilization among fish farming households will provide a strategy to raise demand for local feeds thereby raising national feed production vis-à-vis reducing Nigeria’s import dependency on feeds. The study investigated the feed choices and performance of fish farming in Akure South Local Government Area of Ondo State, Nigeria. A random sampling of 120 fish farmers was taken and subjected to profitability and multinomial logit model analyses. The findings revealed that majority of the respondents (57.50%) cultured juvenile seed while 55.83% used only earthen pond. The gross margin and net farm income were N531,808.36 and N391,790.15 respectively. The result of the expense structure ratio (ESR) showed that 50% of the total cost of fish production was made up of fixed cost items. Benefit cost ratio (1.93) and percentage profit (93%) indicated that fish farming was a profitable venture in the study area. Results of multinomial logit model revealed that the major factors that significantly influenced fish farmer’s preferences for either a combination of imported and local feeds or the imported feed only to the local feed were educational status, fish price, experience, cost of feed, household income, numbers of pond and household size. The study concluded that massive awareness on the benefit of locally made feed as a viable alternative to the popular imported feed should be encouraged.