Process for the towing of underwater pipelines by means of head tugs for the pulling and tail tugs for the counter-pulling characterized in that it is effected by the use of a set of equipment, connected to the pipeline itself, including floats, of which at least a part has a variable buoyancy or partially variable buoyancy, which, when placed in a pre-established position and at pre-established intervals, provide a graded buoyancy to the pipeline in relation to the distance from the bed so as to obtain a “festoon” configuration of the pipeline, i.e. with suspended sections of pipeline, in correspondence with the floats, alternating with resting sections.