The aquatic fern Azolla Pinnata, known for its substantial protein, vitamin, and mineral content, was investigated as a potential substitute for commercial fish feed (CFF) in the polyculture of Pangas and Grass carp reared in domestic wastewater. A 90 days feeding trial was conducted to determine the growth performance in polyculture of Pangas and Grass carp fingerlings fed Azolla by completely replacing CFF following completely randomized design. Fishes were reared in five treatments, and fed with gradual replacement of CFF by A. Pinnata viz., T1 (100% P. hypophthalmus fingerling + 100% CFF), T2 (80% P. hypophthalmus fingerling and 20% C. idella fingerling +80% CFF and 20% A. Pinnata), T3 (60% P. hypophthalmus fingerling and 40% C. idella fingerling+60% CFF and 40% A. Pinnata), T4 (100% C .idella fingerling +0% CFF and 100 % A. Pinnata).Control was designed as (50% P. hypophthalmus fingerling and 50 % C. idella fingerling + 50% CFF and 50% A. Pinnata).Each treatment having different stocking ratio followed by different feeding percentage of Azolla and CFF on the basis of stocking density and fish body weight. The WGP, and SGR were found in increasing trend with increasing A. Pinnata inclusion level upto T2 groups, while these parameters were not varied significantly upto T4, after that a significant decreasing trend was reported (T4 group). The lowest FCR and CFF cost were reported in T2 group as compared to other treatments and control group. The present study reveals that the best stocking ratio for Pangas and Grass is 80:20 and 20% CFF can be replaced with fresh A. pinnata without any detrimental effects on growth of Pangas.