The gametogenic cycle of the banded murex, Hexaplex (Trunculariopsis) trunculus, from the Ria Formosa lagoon (Algarve coast, southern Portugal) was studied through macro- and microscopic analyses of the gonads during a 1-year study period (March 2003–February 2004). The overall samples presented a balanced sex ratio, with males dominating among smaller individuals and females predominating in larger size-classes. The gametogenic cycle of T. trunculus in the Ria Formosa lagoon comprised an extensive period of gonadal activity, with the simultaneous occurrence of distinct developmental stages of gametogenesis in both sexes almost year-round, and with males invariably presenting gonads in more developed stages of gametogenesis than females. Spawning occurred mainly from May to June 2003, apparently triggered by the rising seawater temperature during spring. Due to the extensive period of gonadal activity, T. trunculus exhibited a short resting phase that occurred simultaneously in both sexes between June and August 2003 and coincided with the period of warmest seawater temperatures. Considering these findings, a closed season in the fishing activity should be implemented during the main spawning period of T. trunculus (May and June), in order to protect the female broodstock and collective spawns.