The geomagnetic field shows aperiodic reversals and excursions separated by stable polarity periods. Although the exact mechanisms responsible of reversals are still debated, several models of different complexity have been proposed. Here we use, for the first time, a different and novel approach based on the theory of tipping points to detect and characterize geomagnetic reversals occurred during the period 25–36 millions years ago by using a high‐resolution magnetostratigraphic study conducted on a sedimentary section located on Maud Rise in the Southern Ocean. We detect a critical threshold for an early warning indicator of the occurrence of a polarity reversal below which a polarity reversal starts. Through the proper use of this early warning indicator we build up a simple non‐autonomous stochastic model to describe the main features of polarity reversals. This approach could be helpful for building up a novel framework for paleomagnetic studies. Plain Language Summary Geomagnetic polarity reversals involve the complete flip of Earth's magnetic field, and they provide valuable insights into geological and biological processes. Geomagnetic reversals have been extensively studied since they were first proposed in 1906, and paleomagnetic studies indicate that the Earth's magnetic field has undergone multiple polarity reversals over millions of years. The causes of these reversals are still being investigated, but one hypothesis suggests that a complex dynamics of the Earth's liquid outer core plays a key role. We use the concept of tipping points and their theory to identify an early warning signal for the occurrence of polarity reversals and provide a simple model to improve our capabilities of predicting them, also revealing that the timing for a complete reversal is of the order of 5,000 years, which is consistent with previous estimations. Key Points A recently‐proposed method based on tipping point theory detects and characterizes geomagnetic reversals from 25 to 36 million years ago A critical threshold is identified as an early warning indicator of polarity reversal occurrence A simple non‐autonomous model is proposed to describe polarity reversals