Starry flounder (Platichthys stellatus) is a commercially important cold-water fish. Our aim was to investigate the effects of fluctuating water temperature on flounders after periods of starvation and feeding. Fish were divided into starvation and feeding groups. The water temperature was increased stepwise in experiment 1; more focused variations, based on the results of experiment 1, were studied in experiment 2. At temperatures ≤27 °C, there was no significant difference observed in survival. At 28 °C, mortality increased, survival was lower (21%) in the starvation group than in the feeding group (46%), and weight loss was the highest (15%) in the starvation group. In experiment 2, survival was ≥86%, and there was no significant difference between the starvation/feeding groups. However, when the water temperature was increased to 27 °C after being decreased to 12 °C, weight loss was the highest (11%). Glucose, cortisol, superoxide dismutase (SOD), catalase (CAT), and glutathione (GSH) levels increased with increasing water temperature, and then gradually decreased. Glutamic pyruvic transaminase (GPT)/glutamic oxaloacetic transaminase (GOT) levels showed large variations among individuals. Triglyceride, cholesterol, and protein levels gradually decreased with long-term starvation. Survival was not affected by water temperature drop ≤27 °C after starvation/feeding. These results indicate that 27 °C is the upper limit of tolerable water temperature for the survival of starry flounders. Therefore, aquaculture farms should ensure maintaining water temperatures at ≤27 °C during high-temperature periods.