The silver pomfret (Pampus argenteus) is one of the most commercially important marine fish species in the Bay of Bengal, Indian Ocean. However, detailed information on the reproductive biology of silver pomfret is limited for the Bay of Bengal, Bangladesh. To understand their reproductive biology, especially the gonadal developmental cycle and spawning season, a total of 373 individuals were collected monthly from February 2016 to January 2018 and examined. The total length (TL) and weight (TW) of P. argenteus ranged from 18.82–35.73 cm and 89.26–617.60 g, respectively. The highest gonadosomatic index (GSI) values were observed from April–June with a second (smaller) peak in October. The highest oocyte diameter was observed in May (630.50 ± 96.70 μm), when the fish reached full maturity, and the lowest was observed in July (35.10 ± 7.12 μm), when new eggs began their development for the next spawning season. The maximum number of eggs in the ovary were found in the yolk granule stage in May with a number of post-ovulatory follicles, which indicated that the ovaries developed to a peak leading up to the spawning season. A number of spermatids were also seen in males in April–June along with females. From these detailed observations, it may be concluded that P. argenteus shows two spawning peaks, in May–June and October. This observation will be helpful for the artificial breeding, sustainable management and conservation of this species in the study area.