Juvenile development has been investigated for the first time in an Antarctic lichen species—Usnea antarctica—in the northern maritime Antarctic, Livingston Island (South Shetland Islands, 62°27′–62°48′S, 59°45′–61°15′W). Here, U. antarctica grows on rocks and forms the dominant vegetation on this site together with a few other macrolichens. This species reproduces mainly by vegetative diaspores (soredia), which include both the photobiont and the mycobiont. To understand the early ontogenetic strategies in U. antarctica, culture experiments were performed in an Antarctic field site where the species occurs naturally. This paper focuses on the different developmental steps seen between the initial colonization of soredia to the formation of a small well-developed thallus, and also on the growth rate of the respective juvenile stages. Compared with growth rates of lichens from temperate European regions the early development of U. antarctica is extraordinarily slow, taking 5–6 years until an adult thallus has been formed. The low photobiont content in the juvenile stages probably limits the growth rate. It is suggested that juvenile development of U. antarctica is controlled by a combination of ecophysiological and morphological adaptations that are required for success in extreme environments such as the terrestrial habitats of the Antarctic.