The 853 m thick sediment sequence recovered at ODP Site 1148 provides an unprecedented record of tectonic and paleoceanographic evolution in the South China Sea over the past 33 Ma. Litho-, bio-, and chemo-stratigraphic studies helped identify six periods of changes marking the major steps of the South China Sea geohistory. Rapid deposition with sedimentation rates of 60 m/Ma or more characterized the early Oligocene rifting. Several unconformities from the slumped unit between 457 and 495 mcd together erased about 3 Ma late Oligocene record, providing solid evidence of tectonic transition from rifting/slow spreading to rapid spreading in the South China Sea. Slow sedimentation of ∼20–30 m/Ma signifies stable seafloor spreading in the early Miocene. Dissolution may have affected the completeness of Miocene–Pleistocene succession with short-term hiatuses beyond current biostratigraphical resolution. Five major dissolution events, D-1 to D-5, characterize the stepwise development of deep water masses in close association to post-Oligocene South China Sea basin transformation. The concurrence of local and global dissolution events in the Miocene and Pliocene suggests climatic forcing as the main mechanism causing deep water circulation changes concomitantly in world oceans and in marginal seas. A return of high sedimentation rate of 60 m/Ma to the late Pliocene and Pleistocene South China Sea was caused by intensified down-slope transport due to frequent sea level fluctuations and exposure of a large shelf area during sea level low-stands. The six paleoceanographic stages, respectively corresponding to rifting (∼33–28.5 Ma), changing spreading southward (28.5–23 Ma), stable spreading to end of spreading (23–15 Ma), post-spreading balance (15–9 Ma), further modification and monsoon influence (9–5 Ma), and glacial prevalence (5–0 Ma), had transformed the South China Sea from a series of deep grabens to a rapidly expanding open gulf and finally to a semi-enclosed marginal sea in the past 33 Ma.