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Fuzzy Ontologies comprise a relatively new knowledge representation paradigm that is being increasingly applied in application scenarios in which the treatment and utilization of vague or imprecise knowledge are important. However, the majority of research in the area has mostly focused on the development of conceptual formalisms for representing (and reasoning with) fuzzy ontologies, while the methodological issues entailed within the development process of such an ontology have been so far neglected. With that in mind, we present in this paper IKARUS-Onto, a comprehensive methodology for developing fuzzy ontologies from existing crisp ones that significantly enhances the effectiveness of the fuzzy ontology development process and the quality, in terms of accuracy, shareability and reusability, of the process’s output.