This study examines the relationship of the reproductive and reserve storage cycles and spat settlement of the Queen scallop (Aequipecten opercularis) to environmental factors. The possibility of farming this species from spat settled on collectors is considered. The gonad condition index shows maximum values between mid-May and early August. Another peak occurs in mid-November. In spring and summer, the energy needed for gametogenesis is derived from food, although it is possible that direct transfer may occur from the digestive gland to the gonad. The glycogen and lipid content of the reserve organs reaches maximum values between late summer and early autumn. The energy requirements related to gametogenesis, which begins in autumn, involve the consumption of accumulated reserves with the resulting reduction in the condition indices. There is a positive correlation between temperature and the condition indices of the digestive gland, the adductor muscle and their lipid and glycogen content, respectively. Two settlement periods were recorded, one in winter, which could not be associated with the spawning of the experimental animals, and another in summer, which coincided with the spawning that took place in spring. The reduced gonad indices recorded at the end of the summer and in winter did not lead to settlement.