The aim of this study was to assess quality of SSF (Solid State Fermented) lupin with Lactobacillus plantarum 299v, and its effects (on growth, feed utilization, digestibility and immunity) of juvenile Atlantic salmon (S. salar), when used as fish meal replacer. Five experimental diets were formulated to provide 40% crude protein and 21% dietary lipid (dry matter basis) with the raw or fermented lupin meal-based protein source replacing fish meal at 15% and 30%. Triplicate groups of fish (averaging 3.53 ± 0.05 g) were fed with experimental diets for 8 weeks. Fermentation process modified nutrient profile of lupin meal and enriched it with lactic, citric and acetic acids. Fish in the FL15% group showed a higher (P < 0.05) final body weight, weight gain, FCR, SGR, and PER compared to those of C group. Apparent digestibility coefficient (ADC) of protein and Nitrogen-free extract showed a significantly higher values in FL15% experimental group, compared to those shown in C group. Fish in the FL15% group showed a higher (P<0.05) lysozyme activity and leucocyte respiratory burst compared to that shown by fish samples in the C experimental group; phagocytic activity did not record differences among experimental groups. In conclusion, replacement of fish meal by raw or fermented lupin meal did not compromise growth, apparent digestibility coefficients and immune status of juvenile Atlantic salmon and even improve fish performance when supplemented at 15%.