We review the different sources of uncertainty affecting the oxygen isotopic composition of planktonic foraminifera and present a global planktonic foraminifera oxygen isotope data set that has been assembled within the MARGO project for the Late Holocene time slice. The data set consists of over 2100 data from recent sediment with thorough age control, that have been checked for internal consistency. We further examine how the oxygen isotopic composition of fossil foraminifera is related to hydrological conditions, based on published results on living foraminifera from plankton tows and cultures. Oxygen isotopic values (delta18O) of MARGO recent fossil foraminifera are 0.2-0.8 per mil higher than those of living foraminifera. Our results show that this discrepancy is related to the stratification of the upper water mass and generally increases at low latitudes. Therefore, as stratification of surface waters and seasonality depends on climatic conditions, the relationship between temperature and delta18O established on fossil foraminifera from recent sediment must be used with caution in paleoceanographic studies. Before models predicting seasonal flux, abundance and delta18O composition of a foraminiferal population in the sediment are available, we recommend studying relative changes in isotopic composition of fossil planktonic foraminifera. These changes primarily record variations in temperature and oxygen isotopic composition of sea water, although part of the changes might reflect modifications of planktonic foraminifera seasonality or depth habitat