The squids Uroteuthis (Photololigo) edulis and Uroteuthis (Photololigo) chinensis (family Loliginidae) are commercially important fishery species in many coastal regions of Asia. The morphologies of these two squids are very similar, and identification based on morphology has been inadequate. The occurrence of cryptic species in the family Loliginidae has been reported. The widely distributed U. (P.) chinensis and U. (P.) edulis are believed to comprise several cryptic species. In this study, the taxonomic status of the two species in East Asia was elucidated by morphological and genetic analyses. Analysis of U. (P.) chinensis from Hong Kong and Xiamen (China) and U. (P.) edulis from Yamaguchi (Japan) and Shanghai (China) was performed in order to determine the effectiveness of different morphometric variables in discriminating between the two species. Multivariate analysis of 27 morphometric indices revealed no new morphological characters for the taxonomic identification of the two taxa, which can be distinguished by the teeth shape and number on arm sucker rings, and the percentage of hectocotylized part of left arm IV of males. The morphometric differences between U. (P.) edulis individuals from the two localities is most probably due to differences in the maturity stages of the sampled individuals between the two localities. Genetic analysis based on the mitochondrial COI and 16S rRNA genes revealed a high divergence of 15.5% and 7.5% respectively, indicating that U. (P.) edulis and U. (P.) chinensis are distinct species.