Breeding:
Oscars are relatively easy to breed. Sexing them is the tricky part. I heard that females don’t get as big as males, that males have humps on their heads, that they are impossible to sex. The truth lies somewhere in the middle. The best way to sex them is to let them pair off on their own. Keep about six in a large tank and they will do the rest. Remove the other fish and you have a pair. There are other ways though. I’ve never seen an adult Oscar with a humped head, I don’t believe that males of this species get them. Sometimes you might see a really old fish that way.
This is the way I like to sex fish. It works 100% of the time and works for just about all substrate spawners. Feed, feed, feed, something with bulk, like live goldfish. If you feed the adult fish heavy enough, the weight of the food in it’s stomach exerts enough pressure on the genital opening that the breeding tube will become slightly distended. If the breeding tube is narrow and points to the rear, it’s a male. If the breeding tube is wide and angles towards the front, it’s a female. Of course, sexing can be done this way but there’s no guarantee that a spawn will occur. Oscars, if paired this way, will usually spawn but other cichlids, like angels and discus generally will not.
Oscars are substrate spawners and will lay from 200 to 2000 eggs at a time. They will tend to their young, if in a separate tank from other fish. If they spawn in a community tank, they will get overzealous in protecting their young and either kill everything in the tank or eat their fry. If this happens, remove the rock that they laid the eggs on and hatch artificially. (Be careful of attacking parents.)
Here's the link...
http://www.gcca.net/fom/Astronotus_ocellatus.htm