At Santa Maria Volcano (New Hebrides island arc), extensive ash and scoria flow deposits overlie the mainly effusive, pre-caldera cone. Hydromagmatic features characterize these deposits, the composition of juvenile clasts ranges from basalt to acid andesite/dacite (SiO₂= 51–63.6%) with a dominant basaltic composition. The stratigraphic position of this pyroclastic series and its spatial distribution around a 8.5 km × 6 km wide caldera provide evidence of a relationship between this series and the caldera formation. In addition, these pyroclastic deposits are co-genetic to parasitic cones and lava flows developed along faults concentric to the caldera. Both series result from a compositionally layered magma reservoir, the subordinate differentiated magmas being the result of fractional crystallization from the basalts. A model of caldera formation which implies a large hydromagmatic eruption at the central vent and minor magma withdrawal by flank eruptions is proposed. This model emphasizes the importance of mafic hydroclastic eruptions in the caldera forming event and contradicts a model implying only quiet subsidence, a process often proposed for the formation of calderas in island are volcanoes of mainly mafic composition.