We studied the spawning ecology of Stegastes sanctipauli, a damselfish endemic to the small and remote St. Peter and St. Paul's Archipelago (Brazil), aiming to determine the main correlates of reproductive success, as inferred from rates of egg losses along a spawning season. New clutches appeared mostly in the last quarter moon, when egg predation intensified. Predation by heterospecifics, particularly Halichoeres radiatus (Linnaeus, 1758), accounted for most egg losses, while filial cannibalism showed negligible influence. Predation pressure was highest for larger nests with higher initial density of eggs. Hatching of eggs occurred close to the new moon (i.e. ~5 days after spawning). Most nests occur in shallow reefs (<16 m depth), where main food resources for adults (turf algae) are concentrated, but abundance of egg predators, particularly H. radiatus, is also highest. This later result suggests that the spawning activity of S. sanctipauli is influenced by the trade-offs between food accessibility by adults and egg predation risk. The patterns recorded here are similar to those known for other tropical damselfish species and may reflect strategies for attenuating predation pressure over new fry and eggs.