Two main periods can be considered in the history of fish metabolism under pressure. The first period (roughly from 1870 to 1970) was mainly descriptive: survival times and behavior were studied and some authors described an increase in oxygen consumption under pressure; later, the counteracting effects of high temperature on pressure were mentioned. The second period (from 1970 onwards) was more integrative and two major ways were explored. The first was to use shallow-water fish, experimentally exposed to hydrostatic pressure, which can induce a metabolic state resembling histotoxic hypoxia. The second way was to use deep-living fish which have, when compared to surface fish, muscle enzymes with higher structural stability, lower activity (in relationship with habitat depth) and kinetics that are less sensitive to pressure increase. Using this approach, it was also shown that muscle composition and function were somewhat different at depth and that deep fish are well adapted to pressure partly by maintaining membrane fluidity (homeoviscous theory). Since about 1990, the two above-mentioned approaches have still been pursued but by fewer researchers. Studies on deep-living fish are mainly concerned with enzyme kinetics whereas shallow water fish are used mainly for cellular energetic studies. Regarding this topic, it has been shown that yellow freshwater eels are able to acclimate to high-pressure effects, by optimizing membrane fluidity and composition (as achieved by deep-living fish), by improving oxidative phosphorylation (increase of P/O ratio) and the glycolytic pathway.