Peruvian bays that are home to aquatic organisms of commercial interest are increasingly affected by hypoxia and low pH events. These stressors produce unfavorable conditions for the aquatic fauna, leading to mass mortality events. In this study, we evaluated the ecophysiological responses of the scallop Argopecten purpuratus exposed to moderate hypoxia (20% DO saturation) and low pH (OA, pH 7.4) using a 2 x 2 factorial design. We found that a 51 -day exposure to low pH (OA treatment) had greater negative effects on A. purpuratus performances than hypoxia (lower survival and decreased clearance and calcification rates), but stimulated early gonad maturation. The survival rate was 1.3 -fold higher under hypoxia than under acidic treatment. The interaction between hypoxia and low pH had an antagonistic effect on survival, since the combined treatment (HOA) resulted in lower scallop mortality than the single stress treatments. Calcification was negatively affected by all stress treatments, whereas hypoxia and OA both stimulated gametogenesis. OA treatment resulted in higher frequencies of previtellogenic and vitellogenic oocytes, greater gonad coverage area, and lower frequency of atretic oocytes, suggesting higher reproductive potential. HOA was positively related to oocyte development and high frequency of post-vitellogenic and atretic oocytes. These results suggest that, due to hypoxia and low pH, feeding is reduced and energy allocation prioritizes scallop gonad maturation. This trend would have negative effects on scallop growth and calcification, while increased reproduction under environmental stress could mitigate the effect on recruitment.