Technical Abstract: Channel catfish egg masses are typically incubated in stationary wire mesh baskets suspended across metal troughs with flow-through water that is agitated and circulated between the baskets and around the eggs with rotating paddles. A limiting factor in the successful incubation of channel catfish egg masses is the absorption of oxygen by the developing embryos; low levels of dissolved oxygen in the water result in premature hatching and increased fry mortality. We designed and tested a vertical-lift incubator (the “See-Saw”) for incubating channel catfish egg masses. Angle-aluminum racks were placed inside paired adjacent hatchery troughs with three hinged-lid baskets held in each rack. The racks were connected to overhead bars that moved up and down at six cycles per minute, raising the rack in one trough while lowering the rack in the adjacent trough. Egg masses were placed inside the baskets and moved in and out of the water column as the racks moved through the cycle. Both the See-Saw and control troughs were loaded with 26 egg masses (13.2 kg) per trough which is 1.5-2.0x higher than recommended loading rates. Swim-up fry survival was 2.3-fold higher for the See-Saw than the control troughs. Many of the sac-fry produced in the control troughs were either dead when removed or died prior to reaching swim-up stage, presumably due to oxygen stress. Use of the See-Saw hatchery increases fry survival while simultaneously using less water and hatchery space per unit fry produced.