Deep-sea sharks (mainly dogfish) are a significant by-catch of trawls for the deep-water fish orange roughy (Hoplostethus atlanticus). To test whether the livers of these sharks might be a source of commerically valuable squalene and other lipids, 16 sharks of 8 species were collected from Tasmanian waters at depths of 700-1200 m during research cruise S02/88 of FRV Soela. The sharks were Centroscyrnnus crepidater (longnose velvet dogfish), Centroscyrnnus owstoni (Owston's dogfish), Centroscyrnnus coelolepis (Portuguese dogfish), Deania calcea (shovelnose dogfish), Etmopterus baxteri (Baxter's dogfish), Etmopterus sp. nov. (unnamed dwarf dogfish), Dalatias licha (kitefin or seal shark) and Centrophorus squarnosus (leafscale gulper shark). Squalene content, triacylglycerols, diacylglyceryl ethers, total fatty acids, pristane and other lipids were analysed by capillary gas chromatography and thin-layer chromatography-flame ionization detection. The livers contained high levels of squalene (15-69% by weight), except for the liver of C. squarnosus (I%), which had an unusually high amount of diacylglyceryl ethers (79%). Triacylglycerol and diacylglyceryl ether contents in the livers ranged from 1 to 26% and from 7 to 79% by weight respectively. The C19 isoprenoid alkane pristane was a minor constituent in all samples (0.01-0.56% by weight of liver). The three major esterified fatty acids in all samples were palmitic (16:0), oleic [18: 1 (n - 9)] and eicosa-11-enoic [20: 1 (n - 9)] fatty acids. Polyunsaturated fatty acids were minor constituents. These data indicate that shark livers could provide a profitable by-catch from deep-water trawls, but it is unlikely that shark could form the basis for a target fishery due to their susceptibility to overfishing.