In Brazil, fishing in continental waters is prohibited from November to February, the rainy season, when most commercially important fish species are reproductively active. Brycon nattereri is a native species to the Paraná, Tocantins, and São Francisco River basins in Brazil and is on the national list of species threatened with extinction. The goal of this study was to analyse the main reproductive variables of B. nattereri from the Lourenço Velho River, located in the Paraná River basin, south-eastern Brazil. From 2013-2016, 326 specimens (156 females and 170 males) were caught bimonthly using gill nets. Biometric data, gonadosomatic index (GSI), and fecundity were determined for each specimen. The gonadal maturation stages and the breeding season were established. There were relatively greater GSI values for males and average values were similar to those of females, an uncommon feature in Neotropical freshwater fish. The greatest frequencies of mature fish occurred from April to July in the dry season, which is when there are least ambient temperatures. The fecundity for body weight varied from 16,300 to 62,800 oocytes per female and fully developed vitellogenic oocytes had a mean diameter of 1175 ± 278.87 μm. These results indicate that B. nattereri breeds in the dry season when the water temperature is colder and, therefore, protection from fishing of this species during this season needs to be established.