Here we use Mg/Ca temperature estimates from subsurface and thermocline dwelling foraminifera to reconstruct the meridional Plio‐Pleistocene evolution of the Southeast Pacific thermocline, in relation to atmospheric circulation changes. Our data indicate a change in the thermocline, responding to the northward displacement of the Intertropical Convergence Zone/South Pacific High system between ~3.8 and 3.5 Ma. After 3.5 Ma, we record a second major phase of thermocline shoaling, which points to the ITCZ/SPH‐system movement toward its modern position along with the gradual cooling of the Northern Hemisphere and its associated glaciation.