On 10 October 2011, a submarine volcanic eruption started 2 km south from El Hierro Island (Spain). Since July 2011 a dense multiparametric monitoring network was deployed all over the island by Instituto Geográfico Nacional (IGN). By the time the eruption started, almost 10000 earthquakes had been located and the deformation analyses showed a maximum deformation of more than 5 cm. Earthquake migration from the north to the south of the island and acceleration of seismicity are in good correlation with changes in the deformation pattern as well as with some anomalies in geochemical and geomagnetic parameters. An earthquake of local magnitude 4.3 at 12 km depth (8 October 2011) and shallower seismicity a day after, preceded the onset of the eruption. This is the first time that a volcanic eruption is fully monitored in the Canary Islands. Data recorded during this unrest episode at El Hierro will contribute to understand reawakening of volcanic activity in this region and others of similar characteristics.