In this study, redox-dependent phosphorus (P) recycling and burial at 6 sites in the Baltic Sea is investigated using a combination of porewater and sediment analyses and sediment age dating (210Pb and 137Cs). We focus on sites in the Kattegat, Danish Straits and Baltic Proper where present-day bottom water redox conditions range from fully oxygenated and seasonally hypoxic to almost permanently anoxic and sulfidic. Strong surface enrichments of Fe-oxide bound P are observed at oxic and seasonally hypoxic sites but not in the anoxic basins. Reductive dissolution of Fe-oxides and release of the associated P supports higher sediment–water exchange of PO4 at hypoxic sites (up to 800 µmol P m-2 d-1) than in the anoxic basins. This confirms that Fe-bound P in surface sediments in the Baltic acts as a major internal source of P during seasonal hypoxia, as suggested previously from water column studies. Most burial of P takes place as organic P. We find no evidence for significant authigenic Ca–P formation or biogenic Ca–P burial. The lack of major inorganic P burial sinks makes the Baltic Sea very sensitive to the feedback loop between increased hypoxia, enhanced regeneration of P and increased primary productivity. Historical records of bottom water oxygen at two sites (Bornholm, Northern Gotland) show a decline over the past century and are accompanied by a rise in values for typical sediment proxies for anoxia (total sulfur, molybdenum and organic C/P ratios). While sediment reactive P concentrations in anoxic basins are equal to or higher than at oxic sites, burial rates of P at hypoxic and anoxic sites are up to 20 times lower because of lower sedimentation rates. Nevertheless, burial of reactive P in both hypoxic and anoxic areas is significant because of their large surface area and should be accounted for in budgets and models for the Baltic Sea.