Abstract The large-scale sea-level variations in the subtropical north-eastern Atlantic Ocean are characterised by a predominant seasonal fluctuation. Analysis of 6 years (1993–98) of combined TOPEX/POSEIDON and ERS-1/2 altimetric data together with data of concurrent oceanic surface geophysical fields (ECMWF net heat fluxes, ECMWF winds, and Reynolds sea-surface temperature) reveals that the dominant physical forcing of sea-level variations on an annual timescale is the air–sea net heat fluxes. This local forcing generates a seasonal ocean steric response, whose amplitude (of the order of 4–5 cm) varies spatially within the studied area and temporally over the 6-year period. The residual variability is mainly characterised by a non-seasonal signal, which is observed northwards of the Azores Current (∼34°N), and its time variation resembles that of the North Atlantic Oscillation (NAO). A combination of steric effects (wind-induced heat fluxes) and wind effects (barotropic Sverdrup response) appear to explain this signal. Some evidence of a local Ekman pumping response is also found regionally, both in the seasonal and non-seasonal variations of the observed sea level. At the interannual timescale, an overall sea-level trend with a mean rate of 0.5 cm/year is detected. However, the magnitude of the trend varies locally, so that the entire sea surface appears to undergo a general tilt, which extends beyond the studied area. Superimposed on this long-term trend, a sharp temporal sea-level rise occurs in 1995, mainly between the Azores and Madeira Islands. All together, these low-frequency sea-level variations seem to co-vary with the large-scale sea-surface temperature (SST) variations. This implies a comparable evolution of the sea level with the upper-ocean thermal content, which suggests a contribution from steric effects. A weaker situation is observed in the northern area, indicating a possible low-frequency wind-forcing-enhanced contribution.