Resumo. AIM: This study examines the short-term changes of phytoplankton in an oxbow lake on the floodplain of the Acre River, Amazonia, Brazil. METHODS: Samples were taken with a Van Dorn bottle, at three depths (surface, middle and bottom), in two periods (low waters and high waters), for seven consecutive days in two schedules, night and morning. RESULTS: Phytoplankton was represented by 198 taxa and the Class Euglenophyceae, with 62 taxa, was the best-represented group in both periods. There were abrupt changes in the community during the high waters (potamophase). During this period, in conditions of partial atelomixis, we recorded higher values of phytoplankton biovolume and dominance of Gonyostomum semen (Ehr.) Dies. (Raphidophyceae). CONCLUSIONS: In the low waters (limnophase), conditions in the lake were more stable, the diversity and rate of change in the community were lower, and the frequent periods of stratification and mixing were responsible for the dominance of Geitlerinema sp. (Cyanobacteria).