The Gulf of Mexico consists of several ecological and geologic provinces, chief of which are the coastal zone, the continental shelf, the continental slope, and the abyssal plain. The coastal zone consists of tidal marshes, sandy beaches, mangrove-covered areas, and many bays, estuaries, and lagoons. The continental shelf forms an almost continuous terrace around the margin of the gulf; its width varies from a maximum of more than 200 miles (320 km) to a minimum of about 25 miles (40 km). Off the west coast of Florida as well as off the Yucatán Peninsula, the continental (continental slope) shelf consists of a broad area composed primarily of carbonate material. The remainder of the shelf consists of sand, silt, and clay sediments. On the shelf and on the slope that dips downward to the abyssal plain, buried salt domes occur at various depths; economically important deposits of oil and natural gas are associated with them. The abyssal plain, which forms the floor of the gulf, consists of a large triangular area near the centre, bounded by abrupt fault scarps toward Florida and the Yucatán Peninsula and by more gentle slopes to the north and west. The basin is unusually flat, having a gradient of only about 1 foot (0.3 metre) in every 8,000 feet (2,440 metres). The deepest point is in the Mexico Basin (Sigsbee Deep), which is 17,070 feet (5,203 metres) below sea level. From the floor of the basin rise the Sigsbee Knolls, some of which attain heights of 1,300 feet (400 metres); these are surface expressions of the buried salt domes.

The southeastern portion of the gulf is traversed by a riverlike current that becomes the main source of the North Atlantic Gulf Stream; this is the principal current moving oceanic waters through the gulf. Water from the Caribbean enters through the Yucatán Channel, the floor of which forms a sill (submarine ridge between basins) at about 1 mile (1.6 km) beneath the surface, and flows out in a clockwise direction via the Straits of Florida. Meandering masses of water, called loop currents, break off from the main stream and also move clockwise into the northeastern part of the gulf. Both seasonal and annual variations occur in these loop currents. A less well-defined pattern exists in the western gulf. There the currents are relatively weak, varying appreciably in intensity with season and location. There is extreme variability in both current direction and speed on the continental shelf and in the coastal waters of the gulf, where currents are subjected to seasonal and annual variations caused not only by major circulation patterns but also by changes in the prevailing wind direction.

The various rivers flowing into the Gulf of Mexico drain a land area roughly double that of the gulf, and the salinity of the gulf is subject to wide variations. In the open gulf the salinity is comparable to that of the North Atlantic, about 36 parts per thousand. This proportion, however, varies markedly during the year in coastal waters, particularly near the outflow of the broad delta region of the Mississippi River. During periods when the volume of the Mississippi's flow is greatest, salinities as low as 14 to 20 parts per thousand occur as far as some 20 to 30 miles (30 to 50 km) offshore.

Sea surface temperatures (temperature) in February vary between 64 °F (18 °C) in the northern gulf and 76 °F (24 °C) off the Yucatán coast. In the summer, surface temperatures of about 90 °F (32 °C) have been measured, but the usual variation is nearly the same as that experienced in February. Bottom-water temperatures of about 43 °F (6 °C) have been recorded near the northern part of the Yucatán Channel. The thickness of the isothermal layer (a surface layer of water of constant temperature) varies from about 3 to more than 500 feet (1 to more than 150 metres), depending on seasonal and local conditions as well as on location. The tidal range is small, averaging less than two feet in most places; in general, only diurnal tides occur—i.e., one period of high water and one of low water during each tidal day (24 hours and 50 minutes).

The climate of the gulf region varies from tropical to subtropical. Of particular note are the often-devastating hurricanes (tropical cyclones) that strike the region nearly every year. The hurricane season officially runs from June 1 to November 30, during which time meteorologic and oceanographic conditions are conducive for hurricanes to develop anywhere in the gulf. Particularly damaging hurricanes included one in Galveston, Texas, in 1900 and another in and around New Orleans in 2005. Hurricanes spawned in the North Atlantic may also move through the gulf at that time, often picking up strength.

The shores of the Gulf of Mexico are a major habitat for waterfowl and shorebirds. Substantial colonies of noddies, boobies, pelicans, and other seabirds winter along the coasts of Mexico and Cuba, as well as on offshore islands. There is a marked absence of marine mammals; the only one of significance, the Caribbean manatee, is diminishing in number.

The gulf waters contain huge populations of fish, particularly along the continental shelf. commercial fishing is of major economic importance and supplies roughly one-fifth of the total catch in the United States. Shrimps, flounder, red snappers, mullet, oysters, and crabs are the most important commercial species for human consumption. In addition, a large quantity of the fish caught is used to provide fish protein concentrate for animal feeds; menhaden provide the bulk of this catch.

The shallow continental shelf regions of the Gulf of Mexico contain large deposits of petroleum and natural gas. These deposits have been developed extensively since the 1940s and provide a substantial proportion of domestic needs in the United States. Offshore wells have been drilled primarily in the waters off the coasts of Texas and Louisiana and off Mexico in the Bay of Campeche. Sulfur is also extracted from wells drilled on the continental shelf off Louisiana. Oyster shells are obtained from the shallow waters of the Texas Gulf Coastal Plain and from bays and estuaries. These are used in the chemical industry as a source of calcium carbonate and also provide material for building roads.

The coastal waters of the Gulf of Mexico are used extensively for sport fishing, especially for red snappers, flounder, and tarpon. Boating, swimming, and scuba diving also are popular recreations. The Gulf Coast has become a popular tourist destination, especially during winter. Tourism has developed primarily since World War II and has become one of the major components of the regional economy. In addition, the coastal areas, particularly in Florida, have developed into large retirement communities.

Shifting demographic patterns in the United States since 1950 have brought millions of new residents to the gulf region. This growing population has increased the demand for fresh water and generated large quantities of sewage and industrial waste (including heavy metals and polychlorinated biphenyls), much of which have been discharged directly into gulf waters or indirectly by rivers draining into the gulf. Offshore drilling has brought oil spills that, on occasion, have fouled beaches and destroyed marine life. More damaging, however, have been modern agricultural practices in much of the United States and Mexico, resulting in runoff contaminated with tremendous amounts of chemical pesticides, herbicides, and fertilizers. Blooms of red algae (Rhodophyta) and regions of oxygen depletion (hypoxia) have increased in frequency, size, and duration; these occurrences have been tied to the introduction into the gulf of large amounts of phosphates and nitrogen, particularly from the outflow of the Mississippi River. Off Louisiana, erosion and changes in relative sea level have caused the submergence of large areas of coastal wetlands; and pollution, siltation, and filling have resulted in the destruction of large areas of the gulf's mangroves and many of its coral reefs.

After Christopher Columbus first made contact with the region in 1492, waves of Spanish explorers entered the gulf and penetrated into the North American interior. By 1600 the major physical features had been discovered, and a system of towns, silver mines, and missions had been established around the gulf shore. Little scientific study of the gulf was carried out until the 20th century, but since then the gulf has come to resemble something of a vast natural laboratory. Major marine research centres are located throughout the region, notably in Texas, Louisiana, and Florida. The gulf has become renowned for the diversity of its marine biota and the dynamics of its numerous barrier beaches; and, because of its vast oil reserves, the stratigraphy of its continental shelf has been studied by geophysicists and seismologists to a greater degree than perhaps that of any other oceanic basin. The frequent occurrence of hurricanes and other tropical storms in the gulf also has made it the focus of much research in climatology.