ABSTRACTLevelling measurements carried by Osservatorio Vesuviano over Vulcano Island (North Sicily) since June 1976 show a complex history of small but significant vertical movements which took place after the ‘Patti earthquake’ of 15/4/1978. Three phases can be identified in the time history of ground deformation: (I) co‐seismic subsidence of the northern part of the Island with respect to the southern part, followed by (II) transient inflation of the central region surrounding ‘La Fossa’ volcano, and finally (III) deflation and subsidence to stationary values greater than phase I. Large variations in temperature and gas content of magmatic origin were also detected in fumaroles along the crater rim of ‘La Fossa’. The coincidence in time of the earthquake with the start of the deformation history, the proximity of the event to Vulcano Island and the favourable mechanism (right lateral) and orientation (NNW) of the fault strike, suggest that the earthquake triggered the observed deformation. Among the plausible models, one seems particularly able to reproduce the amplitude and time evolution of the geodetic data, in a manner consistent with the geochemical observations. According to this model the earthquake, while generating a compressive stress field in the quadrant of Vulcano Island, induced at first a relative coseismic subsidence of the northern part of the island, accompanied by a large increase of the mean stress within a magma chamber at ∼ 6.5 km depth. Volatile fluids were then released from the top of the magma chamber and migrated towards the surface following the enhanced pressure gradient. As a result fluid pressure diffusion around the magma chamber induced a local transient uplift of ground that vanished after exhaustion of the overpressure at the source, and finally left a permanent dislocation deformation, possibly amplified by the post‐seismic relaxation of the earthquake deviatoric stress. This interpretation is qualitatively consistent with the one suggested by