In 1995, an expedition on board the research vessel FS Polarstern explored the impact site of the Eltanin asteroid in the Southern Ocean, the only known asteroid impact into a deep ocean basin. Analyses of the geological record of the impact region place the event in the late Pliocene (~2.15 Myr) and constrain the size of the asteroid to be >1 km. The explosive force inferred for this event places it at the threshold of impacts believed to have global consequences, and its study should therefore provide a baseline for the reconstruction and modelling of similar events, which are common on geological timescales.