A relatively extended Oligocene pelagic sequence with good to medium recovery, drilled during DSDP Leg 77 in the Gulf of Mexico, yielded rich and well diversified planktonic foraminiferal faunas. Planktonic foraminifera recorded in Hole 538A span the interval from Zone P19 through P22. Evolutionary lineages were observed among the globoquadrinids, the globigernitids, and the “ Globigerina” ciperoensis and Globigerinoides primordius groups. Quantitative analysis of planktonic foraminiferal assemblages shows that faunas fluctuate in abundance and species diversity throughout the sequence. A few of these fluctuations that could be related to selective dissolution are mainly confined to the early-mid Oligocene. A climatic curve was constructed using a warmer indicators, Turborotalia pseudoampliapertura, Globoquadrina tripartita, Dentoglobigerina globularis, Dentoglobigerina baroemoenensis, “Globigerina” ciperoensis and Globigerinoides groups, and Cassigerinella chipolensis; and as cooler indicators, Catapsydrax spp., Globorotaloides spp., Subbotina angiporoides group, Globigerina s. str., and the tenuitellids. Three major intervals are identifiable in the climatic curve: Interval 1 (lower) up to Zone P20 predominantly cooler; Interval 2 (intermediate) up to the upper part of Zone P21a with warm and cool fluctuations; and Interval 3 (upper), warmer, with large positive peak, due to abundant “ G” angulisuturalis, at the beginning of Zone P21b with recooling midway in Zone P22. In intervals 1 and 2 planktonic foraminiferal faunas are dominated by temperate forms. Interpretation of planktonic foraminiferal data suggests that cooler water conditions characterize the early-mid Oligocene; during the mid Oligocene (most of Zone P21a) water masses exhibit peculiar characteristics transitional to the warmer waters prevailing during the late Oligocene. Warmer conditions were not definitely settled in Zone P22, however, as indicated by the cooler episode following the warmest peak. These climatic trends are inconsistent with those inferred from oxygen isotopes except at small scale. In fact, oxygen isotope values for Oligocene Atlantic Ocean are too heavy (thus too cool) in comparison with the high abundance and diversity of warm taxa, especially in Zone P22. When values are lighter (warmer), as in Zone P19, abundance and diversity of warm indices are too low. To explain such a cool isotope values in presence of highly diversified and abundant warm planktonic foraminifera, we suggest (1) that the oxygen isotope ratio used for estimating Oligocene paleotemperatures might be 1/%. heavier than Eocene values and further increased for the late Oligocene. This hypothesis implies the presence of a relatively extended ice cap in Antarctica in the early and mid Oligocene, and probably an increase in ice volume during the late Oligocene; (2) heavier isotope values might be related to an increase in salinity, or (3) by a combination of both ice cap and increase in salinity.