Current global warming results in rising sea-water temperatures, and the loss of sea ice in arctic and subarctic oceans impacts the community composition of primary producers with cascading effects on the food web and potentially on carbon export rates. This study analyzes metagenomic shotgun and diatom rbcL amplicon-sequencing data from sedimentary ancient DNA (sedaDNA) of the subarctic western Bering Sea that records phyto- and zooplankton community changes over the last glacial–interglacial cycle, including the last interglacial period (Eemian). Our data show that interglacial and glacial plankton communities differ, with distinct Eemian and Holocene plankton communities. The generally warm Holocene period is dominated by pico-sized cyanobacteria and bacteria-feeding heterotrophic protists, while the Eemian period is dominated by eukaryotic pico-sized chlorophytes and Triparmaceae. In contrast, the glacial period is characterized by micro-sized phototrophic protists, including sea-ice associated diatoms in the family Bacillariaceae and co-occurring diatom-feeding crustaceous zooplankton. Our deep-time record of plankton community changes reveals a long-term decrease in phytoplankton cell size coeval with increasing temperatures, and resembling community changes in the currently warming Bering Sea. The phytoplankton community in the warmer-than-present Eemian period is distinct from modern communities and limits the use of the Eemian as an analog for future climate scenarios. However, under enhanced future warming, the expected shift towards the dominance of small-sized phytoplankton and heterotrophic protists might result in an increased productivity, whereas the community’s potential of carbon export will be decreased, thereby weakening the subarctic Bering Sea’s function as an effective carbon sink.