Dolphins identify their prey using broadband sonar signals. The broadband spectrum of the target strength (TS) of fish is believed to be a key factor in target discrimination. In this study, the TS spectrum was measured using sonar signals generated by two different dolphin species: finless porpoise and bottlenose dolphin. First, the broadband form functions of a tungsten carbide sphere and a copper sphere were measured in a water tank, and a close agreement between measurements and theoretical values was confirmed. Second, the TS spectra of anesthetized fish from three species were measured in a water tank. Although the results showed characteristics similar to previous measurements, they varied among species, individuals, and tilt angles. Third, the TS spectra of live fish suspended and tethered by nylon monofilament lines were measured at sea. The dolphin-like sonar signals were effective in obtaining the broadband TS spectra of the fish. Cross-correlation processing of the echo from a tungsten carbide sphere showed a further advantage of using the dolphin-like sonar signals: the signal-to-noise ratio increased by more than 10 dB. The variation of TS spectra with fish behavior provides useful information for target identification.