Lipid oxidation and hypoxia can lead to oxidative damage in aquatic animals. This study explored the effects of Scoparia dulcis extracts (SDE) on lipid oxidation, fish growth performance, digestive ability, antioxidant capacity, and hypoxia tolerance ability. The results showed that SDE decreased malonaldehyde (MDA), conjugated diene (CD), and peroxide value (PO) in the linoleic acid and linolenic acid as well as in fish feed. Broken-line analysis revealed that the optimal acetone extract of S. dulcis (AE) supplements was 4.02, 4.01, and 4.01 g kg−1 determined from PO, CD, and MDA, respectively. Dietary AE supplementation increased feed intake and specific growth rate and activities of amylase, trypsin, and lipase as well as alkaline phosphatase in fish hepatopancreas and gut. Polynomial regression analysis showed that optimal dietary AE supplement was 3.61 g kg−1 diet determined from weight gain. Furthermore, dietary AE supplementation decreased MDA content and increased glutathione content and the activities of glutathione peroxidase, catalase, superoxide dismutase, and glutathione reductase in fish digestive organs, gills, erythrocytes, and muscle. Dietary AE supplementation increased durative time (DT) and oxygen consumption rate (OCR) under hypoxia condition. Based on polynomial regression analysis, optimal dietary AE supplements were 4.73 and 4.60 g kg−1 diet determined from DT and OCR for hypoxia tolerance in fish, respectively. According to our current research, SDE’s antioxidant capacity may be attribute to their phenolic chemicals.