More than three decades of geochemical monitoring of hot springs and fumaroles of La Soufrière of Guadeloupe allows the construction of a working model of the shallow hydrothermal system. This system is delimited by the nested caldera structures inherited from the repeated flank collapse events and the present dome built during the last magmatic eruption (1530 AD) and which has been highly fractured by the subsequent phreatic or phreatomagmatic eruptions. Because it is confined into the low volume, highly compartmented and partially sealed upper edifice structure, the hydrothermal system is highly reactive to perturbations in the volcanic activity (input of deep magmatic fluids), the edifice structure (sealing and fracturing) and meteorology (wet tropical regime). The current unrest, which began with a mild reactivation of fumarolic activity in 1990, increased markedly in 1992 with seismic swarms and an increase of degassing from the summit of the dome. In 1997 seismic activity increased further and was accompanied by a sudden high-flux HCl-rich gas from summit fumaroles. We focus on the interpretation of the time-series of the chemistry and temperature of fumarolic gases and hot springs as well as the relative behaviours of halogens (F, Cl, Br and I). This extensive geochemical time-series shows that the deep magmatic fluids have undergone large changes in composition due to condensation and chemical interaction with shallow groundwater (scrubbing). It is possible to trace back these processes and the potential contribution of a deep magmatic source using a limited set of geochemical time series: T, CO2 and total S content in fumaroles, T and Cl- in hot springs and the relative fractionations between F, Cl, Br and I in both fluids. Coupling 35 years of geochemical data with meteorological rainfall data and models of ion transport in the hydrothermal aquifers has allowed us to identify a series of magmatic gas pulses into the hydrothermal system since the 1976-1977 crisis. The contrasting behaviours of S- and Cl- bearing species in fumarolic gas and in thermal springs suggests that the current activity is the result of a new magma intrusion which was progressively emplaced at shallow depth since ~1992. Although it might still be evolving, the characteristics of this new intrusion indicate that it hasalready reached a magnitude similar to the intrusion that was emplaced during the 1976-1977 eruptive crisis. The assessment of potential hazards associated with evolution of the current unrest must consider the implications of recurrent intrusion and further pressurization of the hydrothermal system on the likelihood of renewed phreatic explosive activity. Moreover, the role of hydrothermal pressurization on the basal friction along low-strength layers within the upper part of the edifice must be evaluated with regards to partial flank collapse. At this stage enhanced monitoring, research, and data analysis is required to quantify the uncertainties related to future scenarios of renewed eruptive activity and magmatic evolution.