P-wave first motions, radiation patterns and amplitudes of long-period surface waves, relocated aftershock distributions, leveling and tsunami data indicate that the 1973 Nemuro-Oki earthquake is caused by a low-angle thrust-faulting, representing a rebound at the upper 50 km of the interface between the continental and oceanic lithospheres. Rebound, most likely aseismic, at depths below 50 km, is suggested to take place in the near future from a comparison of recent geologic crustal deformation with pre-seismic and co-seismic data. The estimated seismic moment is about 1 3 – 1 4 of that for the neighboring great earthquakes. The macro-seismic data suggest that the 1973 earthquake is smaller than the 1894 Nemuro-Oki earthquake, the last great earthquake in this region. The 1973 earthquake had been predicted on the basis of a seismic gap. Although the prediction was successful as to the location and nature of the faulting and partly as to the occurrence time, it is smaller than the predicted one. A part of the seismic gap may still remain. The difference between the observed seismic slip (1.6 m) and that predicted on the basis of the pre-seismic crustal deformation (3.0 m) indicates either (1) the 1973 earthquake relieved only a part of the strain accumulated in the upper 50 km, or (2) a significant amount of aseismic slip took place on the seismic fault and completely relieved the accumulated strain in the focal region of the 1973 earthquake. If the former is the case, the remaining strain, not only in the focal region, but also in the remaining seismic gap adjoining it, may be relieved in a larger earthquake in the future. The source parameters obtained are as follows: fault plane, dip direction = N40°W, dip angle = 27°; seismic moment = 6.7 · 10 27 dyn cm; average slip dislocation, 1.6 m in N63°W direction; stress drop = 35 bars. In these calculations, the fault dimension and the rigidity are assumed to be 100 · 60 km 2 and 7.0 · 10 11 dyn/cm 2, respectively.