The common squid Todarodes pacificus is a dominant species within epipelagic communities and an important commercial species in the South and East seas of Korea and in the East China Sea. In this study, to examine the dietary composition, trophic position, and ontogenetic dietary shifts of the common squid, we analyzed stomach contents and stable isotope values (δ13C and δ15N) in muscle tissue across different body sizes (mantle length, ML) and seasons (winter, spring, and summer 2021) in the South Sea of Korea. Regardless of the season, the diet of the common squid predominantly comprised Pisces (37.9–94.0%) and Cephalopoda (6.0–61.0%). However, in the smallest individuals (ML < 10 cm), the stomach contents in August primarily comprised Crustacea (95.5%), thereby indicating a seasonal difference in dietary composition and ontogenetic dietary shifts only during summer. Similarly, our isotope results revealed seasonal isotopic variation among sampling periods and significant positive correlations between ML and both δ13C and δ15N values during the summer. These results reveal a seasonal variability in major diet components among the common squid of different size classes and that their feeding strategies are probably adjusted in response to the temporal availability of prey. Collectively, the findings of this study enhance our understanding of the feeding ecology of T. pacificus and thereby provide valuable information that will contribute to the ecological fishery management of this commercially important species.