Ambrym, in the New Hebrides arc, has been considered as an effusive, basaltic volcano. The present paper discusses the general structure of this edifice, which consists of a basal shield volcano topped by an exceptionally large tuff cone surrounding a 12-km-wide summit caldera. Dacitic pyroclastic flow deposits are exposed in the lower part of the tuff series; they grade upward into composite sequences of bedded surtseyan-type hyaloclastites, ash flow deposits, and fallout tephra which are essentially basaltic in composition, in such a way that the tuff cone may be considered as mainly basaltic. The relationship between the eruption of pyroclastics and the collapse event precludes a classical model of caldera formation at a basaltic volcano in which "quiet" subsidence (i.e. Kilauea type) is the dominant mechanism. Interpretation of the tuff series implies intervention of external water and suggests both explosive and collapse mechanisms. A model of caldera formation which assumes an enlargement of the ring fracture during a first plinian and dacitic, then essentially hydrobasaltic eruption is proposed.