Using 95 epibenthic δ¹³C records, eight time slices were reconstructed to trace the distribution of east Atlantic deepwater and intermediate water masses over the last 30,000 years. Our results show that there have been three distinct modes of deepwater circulation: Near the stage 3-2 boundary, the origin of North Atlantic Deep Water (NADW) was similar to today (mode 1). However, after late stage 3 the source region of the NADW end-member shifted from the Norwegian-Greenland Sea to areas south of Iceland (mode 2). A reduced NADW flow persisted during the last glacial maximum, with constant preformed δ¹³C values. The nutrient content of NADW increased markedly near the Azores fracture zone from north to south, probably because of the mixing of upwelled Antarctic Bottom Water (AABW) from below, which then advected with much higher flux rates into the northeast Atlantic. Later, the spread of glacial meltwater over the North Atlantic led to a marked short-term ventilation minimum below 1800 m about 13,500 ¹⁴C years ago (mode 3). The formation of NADW recommenced abruptly north of Iceland 12,800–12,500 years ago and reached a volume approaching that of the Holocene, in the Younger Dryas (10,800–10,350 years B.P.). Another short-term shutdown of deepwater formation followed between 10,200 and 9,600 years B.P., linked to a further major meltwater pulse into the Atlantic. Each renewal of deepwater formation led to a marked release of fossil CO₂ from the ocean, the likely cause of the contemporaneous ¹⁴C plateaus. Over the last 9000 years, deepwater circulation varied little from today, apart from a slight increase in AABW about 7000 ¹⁴C years ago. It is also shown that the oxygenated Mediterranean outflow varied largely independent of the variations in deepwater circulation over the last 30,000 years.