It is a good idea to come with full HP and with the best equipment at the moment. The player should focus all their attacks on the tentacles first and later the Octo-Kraken. The Band ability, Cross Slash, lowers the boss's HP quickly. A Spider's Silk can be used to cast Slow on him and Protect to improve the party's Defense. A Ice Shield and a Flame Mail helps to absorb the elemental damage from the tentacles' attacks.
A simple strategy is to use a Silver Hourglass, which will cast Stop on every enemy other than the Octo-Kraken itself. This leaves the boss vulnerable to all attacks, which ensures a quick victory.
[view·edit·purge]The Kraken were giant sea monsters, found in Norse and Icelandic mythology. Often depicted as gigantic octopuses or squids, they were thought to rise up from the deeps, grappling and then sinking small ships. Other myths held that the greatest dangers from the Kraken were the whirlpools left behind from their descent back into the deeps.
In the PSP version released as part of Final Fantasy IV: The Complete Collection, the Octo-kraken and its tentacles switches their color scheme with the Cooler Mammoth and its tentacles — the purple Octokraken became red and the red Cooler Mammoth became purple. Both enemies are restored to their proper colors for the iOS release of the game.