Resumo. Abstract: Aim The aim of the present study is to evaluate the potential phosphorus (P) release from the sediment to the water column of a tropical shallow lake in the northeast of Brazil, based on the sediment P fractions and on the flux of P between water and sediment. Methods We used a sequential extraction method to analyse the different P fractions of the sediment of Lake Extremoz. We also carried out a 40-day microcosm experiment to analyse the flux of P between water and sediment. We did so by flooding 200g of sediment from the lake with 800 mL of 1.2 µm filtered lake water in 1 L beakers. Every 5 days we analysed: soluble reactive phosphorus (SRP), total phosphorus (TP), organic phosphorus (Org-P), dissolved oxygen (DO), temperature, and pH of the water. Results The largest fraction of P in the sediment of Lake Extremoz is Refractory-P, which is non-mobile. The main mobile fraction of this lake’s sediment is composed of P bound to Fe and Mn oxides (BD-P) which is redox sensitive. During the P flux experiment, the water was always oxic and with nearly neutral pH, however the temperature increased by almost 4 °C due to the increase of the temperature of the air. SRP, TP and Org-P concentrations in the water had a general decrease in the first 20 days. But, on the second half of the experiment, those concentrations increased and the fluxes of P from sediment to water, mainly Org-P, were positive. Even with this increase in concentrations, indicating a period of P release, overall fluxes were negative. Conclusions The main mobile fraction of the sediment is redox sensitive, therefore it has the potential to be released in case of oxygen depletion. Under current conditions, most of the P released by the sediment is in organic forms, indicating that, in the presence of oxygen, the balance of P between water and sediment is controlled by the effects of organisms on P as well as temperature.