Intensity‐frequency relations are determined for tsunamis originated in the western coast of South America, along a length of about 5,000 km. Basic data for the period 1749–1974 are taken from recent catalogues. An empirical correlation of near‐source tsunami with earthquake magnitude for the region has been found. Statistics of Extreme Values are used in the investigation of tsunami recurrence. On the basis of present data, tsunami risk and return period are computed.