The term 'halibut' is a type of FLATFISH, which is a fish that lives on the ocean floor and has both eyes on one side of its head. Halibut are large, bottom-dwelling fish that can grow up to 8 feet long and weigh up to 500 pounds. They are found in the North Atlantic and Pacific Oceans and are a popular food source. Halibut have a mild flavor and firm texture, making them a favorite among seafood lovers.