The invention relates to an underwater communication system and method. The system comprises at least one underwater remote device comprising a processing unit and functionally connected to the processing unit first magnetoinductive communication means capable of communicating with other underwater devices using magnetic induction, and a wearable underwater monitor device comprising second magnetoinductive communication means capable of communicating with said remote device using magnetic induction. According to the invention, the remote device further comprises functionally connected to said processing unit acoustic communication means capable of transmitting acoustic signals. The invention helps to keep the monitor device small and energy efficient, still allowing for long-distance underwater communications.