Adapting to both brackish and freshwater environments, Antennarius biocellatus showcases a remarkable degree of ecological versatility, which is uncommon among frogfish. Most specimens have been taken at depths of 10 meters or less, indicating a preference for shallow water habitats. This species exhibits the fascinating behavior typical of frogfish, such as using a lure (illicium and esca) for attracting prey, and has a variable coloration that aids in camouflage within its environment. The presence of one or two ocelli on the dorsal fin and its adaptability to a range of salinities make it a unique subject of study and an intriguing addition to appropriate aquarium settings.

For aquarium enthusiasts interested in keeping Antennarius biocellatus, especially in environments mimicking freshwater or brackish conditions, it's crucial to pay close attention to the specific needs of this species. This includes maintaining water quality that reflects its natural habitat, providing a diet that mimics its predatory lifestyle, and ensuring the aquarium setup allows for the fish's unique method of hunting and camouflage.

Breeding in captivity remains a challenge, with egg raft or veil production being a significant part of their reproductive strategy. Conservation status and efforts are essential to consider, given the unique ecological niche this species occupies.