The Antarctic Peninsula is experiencing one of the fastest rates of regional climate change on Earth, resulting in the collapse of ice shelves, the retreat of glaciers and the exposure of new terrestrial habitat. In the nearby oceanic system, winter sea ice in the Bellingshausen and Amundsen seas has decreased in extent by 10% per decade, and shortened in seasonal duration. Surface waters have warmed by more than 1 K since the 1950s, and the Circumpolar Deep Water (CDW) of the Antarctic Circumpolar Current has also warmed. Of the changes observed in the marine ecosystem of the western Antarctic Peninsula (WAP) region to date, alterations in winter sea ice dynamics are the most likely to have had a direct impact on the marine fauna, principally through shifts in the extent and timing of habitat for ice-associated biota. Warming of seawater at depths below ca 100 m has yet to reach the levels that are biologically significant. Continued warming, or a change in the frequency of the flooding of CDW onto the WAP continental shelf may, however, induce sublethal effects that influence ecological interactions and hence food-web operation. The best evidence for recent changes in the ecosystem may come from organisms which record aspects of their population dynamics in their skeleton (such as molluscs or brachiopods) or where ecological interactions are preserved (such as in encrusting biota of hard substrata). In addition, a southwards shift of marine isotherms may induce a parallel migration of some taxa similar to that observed on land. The complexity of the Southern Ocean food web and the nonlinear nature of many interactions mean that predictions based on short-term studies of a small number of species are likely to be misleading.