A system and method for stockpiling material on the seafloor, the system and method using seafloor collection machines, such auxiliary or bulk cutters or collection machines, to capture seafloor material to be stockpiled. The captured seafloor material is carried in slurry form over a flexible transfer pipe to an outlet at a desired seafloor site. In a preferred form the outlet is mounted in a seafloor stockpiling hood that sits on the seafloor at the desired seafloor site and captures and contains slurry from the outlet while allowing egress of water. The captured seafloor material can then be extracted to a surface vessel.