The invention relates to a method for culturing cold-water fishes through in-situ utilization of low-temperature seawater of a Yellow Sea cold water mass (YSCWM). The method is characterized in that culture factory ships and peripheral lined floating net cages, overtravel net cages and variable-water-layer net cages thereof are placed in an YSCWM sea area, and the culturing of the cold-water fishes is carried out by directly using a low-temperature seawater resource of the cold water mass. A factory ship can be used for culturing the fishes, also serves as a working platform and can be used for providing feed, attendance and staff accommodation for surrounding all classes of cage fish culture. When upper-layer water temperature exceeds appropriate growth temperature of the cold-water fishes in high-temperature seasons, the factory ships pump the low-temperature seawater of the cold water mass to culture the cold-water fishes and pump the low-temperature seawater of the cold water mass to the lined floating net cages, lower parts of the overtravel net cages are located in the cold water mass, and the variable-water-layer net cages can sink into the cold water mass so as to carry out culture activities; and when the temperature of upper-layer seawater is appropriate to the growth of cultured fishes, the factory ships, the lined floating net cages, the overtravel net cages and the variable-water-layer net cages all are used for culturing the fishes by using the upper-layer seawater. By adopting the method, the offshore cold-water fish culture of Yellow-Sea sea areas can be implemented; and the method has the characteristics of low culture cost, environment-friendliness and the like.