The occurrence of a series of raised coral reefs from the uplifted island of Malakula (Vanuatu, SW Pacific) provide an opportunity to examine sea-level fluctuations over at least the past 120,000 years. Thirteen fossil coral samples from Malakula were analyzed by the thermal ionization mass spectrometry (TIMS) U/Th dating technique, yielding information on sea levels during late marine isotope stage 3 and early stage 4. Our findings are in good agreement with sea-level estimates from raised coral terraces in Papua New Guinea and the recent sea-level reconstruction from the deep-sea sedimentary δ18O records. In particular, our coral data appear to confirm that sea levels at about 45,000–50,000 yr B.P. were only 30 to 60 m below the present level. Combined with other evidence of sea-level change, our data provide a strong case for much higher sea levels and therefore markedly reduced continental ice volume at 47,000 to 49,000 years ago.