The continental water storage is significantly in-fluenced by wetlands, which are highly affected by climate change and anthropogenic influences. The Pantanal, located in the Paraguay river basin, is one of the world’s largest and most important wetlands because of the environmental biodiversity that represents. The satellite gravity mission GRACE (Gravity Recovery And Climate Experiment) provided until 2017 time-variable Earth’s gravity field models that reflected the variations due to mass transport processes-like continental water storage changes-which allowed to study environments such as wetlands, at large spatial scales. The water storage variations for the period 2002-2016, by using monthly land water mass grids of Total Water Storage (TWS) derived from GRACE solutions, were evaluated in the Pantanal area. The capability of the GRACE mission for monitoring this particular environment is analyzed, and the comparison of the water mass changes with rainfall and hydrometric heights data at different stations distributed over the Pantanal region was carried out. Additionally, the correlation between the TWS and river gauge measurements, and the phase differences for these variables, were also evaluated. Results show two distinct zones: high correlations and low phase shifts at the north, and smaller correlation values and consequently significant phase differences towards the south. This situation is mainly related to the hydrogeological domains of the area.