The oxygen concentrations of oceanic deep-water and atmospheric carbon dioxide (pCO2) are intrinsically linked through organic carbon remineralization and storage as dissolved inorganic carbon in the deep sea. We present a high-resolution reconstruction of relative changes in oxygen concentration in the deep North Atlantic for the past 1.5 million years using the carbon isotope gradient between epifaunal and infaunal benthic foraminifera species as a proxy for paleo-oxygen. We report a significant (>40 micromole per kilogram) reduction in glacial Atlantic deep-water oxygenation at ~960 thousand to 900 thousand years ago that coincided with increased continental ice volume and a major change in ocean thermohaline circulation. Paleo-oxygen results support a scenario of decreasing deep-water oxygen concentrations, increased respired carbon storage, and a reduction in glacial pCO2 across the Middle Pleistocene Transition.