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14 pages, 8 figures, 3 tables, High-resolution bathymetric data and seafloor sampling were used to characterize the most recent volcanic eruption in the Azores region, the 1998–2001 Serreta submarine eruption. The vent of the eruption is proposed to be an asymmetric topographic high, composed of two coalescing volcanic cones, underlying the location where lava balloons had been observed at the sea surface during the eruption. The volcanic products related to the 1998–2001 eruption are constrained to an area of ~0.5 km around the proposed vent position. A submarine Strombolian-style eruption producing basaltic lava balloons, ash and coarse scoriaceous materials with limited lateral dispersion led to the buildup of the cones. The 1998–2001 Serreta eruption shares many similarities with other intermediate-depth lava balloon-forming eruptions (e.g., the 1891 eruption offshore Pantelleria and the 2011–2012 eruption south of El Hierro), revealing the particular conditions needed for the production of this unusual and scarcely documented volcanic product., Project FAUCES (CTM2015-65461-C2-1-R; MINECO/FEDER, UE) provided financial support for the preparation of the article