This 12-week feeding trial compared defatted (DF, 23.77% lipid) versus full-fat (FF, 43.21% lipid) black soldier fly larvae (BSFL) meal as replacements for 14% of fishmeal protein in juvenile turbot diets. Replacing fishmeal with defatted BSFL meal did not impair growth, intestinal morphology, or mucosal barrier function, and enriched beneficial bacteria such as Bacillus. In contrast, full-fat BSFL meal significantly reduced specific growth rate, weight gain, feed efficiency, intestinal perimeter ratio, and anti-inflammatory TGF-β expression, while increasing several potential pathogenic bacteria. The findings indicate that lipid content is a critical determinant of BSFL meal suitability in carnivorous marine fish diets, with defatted formulations being preferable.