It is proposed that where sexually selected vocal communication is an honest signal, the call production rate is predicted to change throughout the breeding season. Male leopard seals call underwater for many hours each day over their three- to four-month breeding season, and it is hypothesized that a decrease in calling rate would be associated with the declining body condition of smaller males. The calling rates of leopard seals were measured (N = 49 recordings) and compared between seals of different size classes throughout the breeding season. Male leopard seals produce their calls at more stable rates as they become larger. In this study, larger male leopard seals adopted a strategy of consistent underwater calling throughout the breeding season, whereas there was a breakdown in the calling stereotypy of the smaller males at its height. Toward the end of the breeding season, the smaller seals produced fewer calls in shortened calling bouts, and they took more rest periods. Therefore, underwater calling may represent an honest signal in the leopard seal. For marine mammals that call underwater, the production of repetitive sequences advertises the breath-holding ability of the caller to the listeners, and this ability may be related to male stamina and endurance, thus representing an honest signal that could be widespread in other species.