During deep‐water exploratory surveys in the Mexican Pacific, 134 specimens of Galacantha diomedeae were collected between 1,035 and 2,136 m depth, below the Oxygen Minimum Zone. Greatest densities of G. diomedeae were observed between 1,300 and 1,600 m, with a maximum of 71 organisms per hectare at 1,318 m, and no clear bathymetric pattern of size distribution was detected. A total of 67 males, 43 ovigerous females, and 24 non‐ovigerous females were collected. The global sex ratio was 1:1, with some predominance of females shallower than 1,300 m and the opposite pattern at 1,300–1,600 m. Ovigerous females (carapace width [CW]=15.5‒32.3 mm) were significantly larger than other females (CW = 5.1‒29.9 mm), and females (including all females) were larger than males (CW = 6.0‒29.9 mm). Among males and among all females, the growth coefficient was near 3 (Student's t test, males = 0.0027, all females = 0.0041; for both males and females, p > 0.05), indicating isometric growth. Ovigerous females were present all year, except in January, suggesting continuous reproduction. The observed low numbers of eggs (11–126), large egg sizes (2.07–2.77 mm), and advanced embryos at stage 5 are consistent with extended, lecithotrophic embryonic development with a reduced pelagic phase of the larvae. The relationship between ovigerous female size (N = 43) and number of eggs per female was marginally significant (y = 8.0474x–98.297; R2 = 0.373), and there was no significant relationship between egg size and carapace size. There was no clear increase in egg size with embryonic development (phases 1–5). Individuals of G. diomedeae were found in a narrow range of environmental conditions, and mainly occupied oxic water (DO ≥0.5 ml/L) and sediments with intermediate to low organic carbon content.