A wide variety of marine mineral deposits were recovered from 750 to 1400 m water depths on Galicia Bank, Iberian margin. Mineral deposits include: (1) carbonate fluorapatite phosphorite slabs and nodules that replaced limestone and preserved original protolith fabric. (2) Ferromanganese vernadite crusts with high Mn and Fe (Mn/Fe = 1) contents, and thick stratabound layers consisting mainly of Mn (up to 27% MnO) and Fe (15% Fe2O3), which impregnated and replaced the phosphorite. (3) Co‐rich Mn nodules are composed of romanechite and todorokite laminae. Mn‐rich layers (up to 58% MnO) contain up to 1.8% Co. (4) Goethite nodules with Fe up to 67% Fe2O3 have low Mn and trace metals. We interpret this mineralization paragenesis to be related to major changes in oceanographic and tectonic regimes. Three phosphatization generations formed hardgrounds dated by 87Sr/86Sr isotopes as late Oligocene, early Miocene, and latest early Miocene. During the latest early Miocene, the hardground was fractured and breached due to regional intraplate tectonism, which was coeval with a widespread regional erosional unconformity. The stratabound layers and Co‐rich manganese nodules were derived from low‐temperature geothermally driven hydrothermal fluids, with fluid conduits along reactivated faults. During middle and late Miocene, the introduction of vigorous deep water flow from the Arctic generated growth of hydrogenetic ferromanganese crusts. Finally, growth of diagenetic Fe‐rich nodules (late Pliocene) was promoted by the introduction of hypersaline Mediterranean Outflow Water into the Atlantic Ocean. Key Points: Ferromanganese and phosphorite mineral deposits discovered on Galicia Bank Paragenesis are controlled by hydrogenous, diagenetic, and hydrothermal processes Cenozoic tectonism and paleoceanography are recorded on the mineralizations