Southern Ocean deep-water circulation plays an important role in the global carbon cycle. On geological time-scales, upwelling along the Chilean continental margin likely contributed to the deglacial atmospheric carbon dioxide rise, but little quantitative evidence exists of carbon storage. Here, we use a new X-ray Micro-Computer-Tomography method to assess foraminiferal test dissolution as proxy for paleo-carbonate ion concentrations [CO3^2−]. Our subantarctic Southeast Pacific sediment core depth transect shows significant deep-water [CO3^2−] variations during the Last Glacial Maximum and Deglaciation (10 – 22 ka BP). We provide evidence for an increase in [CO3^2−] during the early deglacial period (15-19 ka BP), followed by a ca. 40 µmol kg^-1 reduction in Lower Circumpolar Deepwater (CDW). This decreased Pacific to Atlantic export of low-carbon CDW contributed to significantly lowered carbon storage within the Southern Ocean, highlighting the importance of a dynamic Pacific–Southern Ocean deep-water reconfiguration for shaping late-glacial oceanic carbon storage, and subsequent deglacial oceanic-atmospheric CO2 transfer.