Insect meals are good candidates to replace fishmeal as new protein sources in aquafeeds. This study evaluated the effects of fishmeal replacement with different dietary inclusion levels of a partially defatted Tenebrio molitor (L.) larva meal (TM) on rainbow trout (Oncorhynchus mykiss Walbaum) growth, diet digestibility, and hepatic intermediary metabolism. A 154-day growth trial was performed with 252 rainbow trout (78.3 ± 6.24 g) randomly divided into twelve tanks and fed four experimental diets containing increasing levels of TM: 0% (TM0), 25% (TM25), 50% (TM50), and 100% (TM100) of fishmeal substitution, corresponding to TM dietary inclusion levels of 0%, 5%, 10%, and 20%, respectively. A digestibility trial was performed feeding 180 rainbow trout (94.6 ± 7.31 g) with the experimental diets used in the growth trial. The growth parameters were not affected by TM dietary inclusion. Regarding the evaluated apparent digestibility coefficients (ADC), only the ADC of crude protein was affected, showing the following trend: TM0 = TM25 > TM50 > TM100. The activities of key hepatic amino acid catabolic and lipogenic enzymes were not affected by the dietary composition. The results suggest that a partially defatted TM could totally replace fishmeal in commercial rainbow trout diets without negative effects on fish performance.