Abstract. The tiger beetle, Phaeoxantha klugii Chaudoir, survives the annual inundation period in Central Amazonian floodplains as a third‐instar larvae submerged in the soil at approximately 29 °C for up to 3.5 months. Previous studies showed an exceptional anoxia resistance in these larvae and this study investigates whether they perform anaerobiosis. Larvae collected in the field were exposed to a pure nitrogen atmosphere for 0–9 days in the laboratory. The content of lactate, alanine, free sugars and glycogen is analysed in surviving larvae. Lactate and alanine contents rise during anoxia from around 1.5 and 7 to 6–14 and 15–22 µmol g−1 fresh mass, respectively, providing evidence for anaerobic metabolism. Both compounds show a steep increase during the first 12 h and a tendency to rise further with increasing duration of anoxic conditions, indicating a significant metabolic depression within the first day. Content of free sugars and glycogen varies greatly between individuals and ranges from 0.08–2.5 and 0.05–2.9 mg g−1 fresh mass, respectively. Whether glycogen is used as metabolic substrate for anaerobiosis could not be verified. The findings for free sugars indicate that larvae apparently maintain the ability to regulate the level of glucose and/or trehalose even after 9 days of anoxia.