Paracetamol (PCM) is among the most consumed analgesic and antipyretic drugs worldwide. Due to its high consumption, this drug has been reported ubiquitously on different water bodies, posing a real threat to aquatic organisms. Until now, several studies have pointed out that PCM may induce oxidative stress, histological damage and developmental disorders on different aquatic species. Nonetheless, there is still a huge knowledge gap about the toxic effects that PCM may induce in species of commercial interest such as the common carp Cyprinus carpio. The aim of this study was to evaluate survival and malformation rates induced by PCM (0.5 μg/L – 3.5 μg/L) in early life stages of common carp. Furthermore, oxidative stress biomarkers were evaluated at 72 and 96 h post fecundation. PCM reduced the survival rate of the embryos of up to 90%, as concentration increased. LC50 and EC50m were 1.29 μg/L and 2.84 μg/L, respectively. Biomarkers of cellular oxidation and antioxidant enzymes were modified in a concentration-dependent way with respect to the control group (p < 0.05). The main developmental alterations observed were lordosis, scoliosis, craniofacial malformations, hypopigmentation, growth retardation, pericardial edema and rachyschisis. These data indicate that environmentally realistic concentrations of PCM could be hazardous and affects the development in early stages of C. carpio. Moreover, our findings also indicate that C. carpio embryos may be a useful in vivo model to evaluate embryonic and teratogenic effects of drugs such as PCM. Display omitted •Survival and malformation rates induced by paracetamol was evaluated in Cyprinus carpio.•Oxidative stress status was evaluated at 72 and 96 hpf in embryos of Cyprinus carpio.•Paracetamol reduced the survival rate of the embryos of up to 90%.•At concentrations of 2.0–3.5 μg/L of paracetamol the most severe malformations occurred.•Paracetamol alters embryonic development and oxidative status in Cyprinus carpio.