Survival of air-breathing, diving ectotherms is dependent on their capacity to optimise the time available for obligate underwater activities, such as predator avoidance. Submergence times are thermally sensitive, with dive durations significantly reduced by increases in water temperature, deeming these animals particularly vulnerable to the effects of climate change. The physiological mechanisms underlying this compromised performance are unclear but are hypothesised to be linked to increased oxygen demand and a reduced capacity for metabolic depression at elevated temperatures. Here, we investigated how water temperature (both acute and chronic exposures) affected the physiology of juvenile estuarine crocodiles (Crocodylus porosus) performing predator avoidance dives (i.e. fright-dives). Diving oxygen consumption, 'fright' bradycardia, haematocrit and haemoglobin (indicators of blood oxygen carrying capacity) were assessed at two test temperatures, reflective of different climate change scenarios (i.e. current summer water temperatures, 28°C, and 'high' climate warming, 34°C). Diving oxygen consumption rate increased threefold between 28 and 34°C (Q10=7.4). The capacity to depress oxygen demand was reduced at elevated temperatures, with animals lowering oxygen demand from surface levels by 52.9±27.8% and 27.8±16.5% (means±s.e.m.) at 28°C and 34°C, respectively. Resting and post-fright-dive haematocrit and haemoglobin were thermally insensitive. Together these findings suggest decrements in fright-dive performance at elevated temperatures stem from increased oxygen demand coupled with a reduced capacity for metabolic depression.