The oxygen fugacity (fO2) and the fO2 versus T¿C relationship of high-temperature (600¿-800 ¿C) gas emissions from Momotombo volcano, Nicaragua, was determined from both field electrochemical measurements (electrolytic cell as- sembly) and thermodynamic computations on gas samples collected between 1978 and 1985. It was then compared with the intrinsic fO2 of fresh and altered lavas from the last eruption (1905), as measured between 500¿ and 1100 ¿C in laboratory. The electrochemical results show that the oxygen fugacity of Momotombo fumaroles, at equivalent temperature, is much higher than that of fresh 1905 lava (~FMQ buffer) and closer to that of their altered wall rocks (~NNO buffer). The equilibrium O2 fugacities calculated from the chemistry of gas samples confirm this pattern. However, they suggest that the gas mixtures preserve the (variable) memory of a higher thermal equilibrium achieved at depth, under temperature and fO2 conditions of up to 1050 ¿C and 10-9.0 atm, respectively, which correspond to the cross over between the fO2-T gas and lava trends. These data thus support the idea that Momotombo volcanic gases, released in a period of increasing activity, escape from a shallow magma body before suffering a variable oxidation during their ascent through both unbuffered cooling and reactions with environmental fluids and rocks. This late oxidation is weaker at central fumaroles than at peripherical ones. While between 1978 and 1985 the temperature of the hottest fumarole increased from 750¿ to 865¿-900 ¿C, the equilibrium fO2 of the gas decreased by nearly one order of magnitude (at comparable equilibrium temperature). Such an evolution presumably reflects an increasing connection between the surface exhalations and the magma degassing at depth along with time. This work underlines the possibility of monitoring the processes of magma ascent and gas-magma separation with a volcano before an eruption by continuously recording the changes of both oxygen fugacity and temperature in hot fumaroles. ¿ American Geophysical Union 1988