The St. Paul Fracture Zone (FZ) in the equatorial Atlantic is interrupted by three intratransform ridge (ITR) spreading centers. A detailed magnetic survey, corrected for the diurnal variations using a moored magnetic station, six submersible dives, and three bottom‐towed video camera tracks provide data on the most eastern ITR (0°37′N, 25°27′W). Visual observations and submersible sampling displayed a high ultramafic/volcanic ratio, supporting the assumption that the ITR is in a magmatically starved state. Volcanics were mainly found on the rift valley floor from 4700 to 4000 m and as a thin cap (<160 m) on the top of the eastern rift crest (2700 m). Most of the rift walls consist essentially of serpentinized peridotites and gabbros. The magnetic data show a well‐defined ridge centered anomaly. A generalized inversion method was applied to the field data to calculate the crustal equivalent magnetization, assuming that the seafloor is broken down into elementary cells of 1 × 1 × 0.5 km3 which fit the topography. The average of absolute value of equivalent magnetization is 2.7 A m−1. The width of the central normal polarity (Brunhes epoch) is wider (at least 34 km) than that indicated by the NUVEL‐1 kinematic model (24.5 km). This 40% excess is believed to be significant and is thought to be the result of prolonged chemical remanent magnetization acquired during the serpentinization of peridotites. In a magmatically starved accretion segment, we suggest that peridotites could continue to acquire magnetization as long as tectonic activities facilitate the circulation of seawater in the upper mantle.