The three‐dimensional P and S wave structure of Redoubt Volcano, Alaska, and the underlying crust to depths of 7–8 km is determined from 6219 P wave and 4008 S wave first‐arrival times recorded by a 30‐station seismograph network deployed on and around the volcano. First‐arrival times are calculated using a finite‐difference technique, which allows for flexible parameterization of the slowness model and easy inclusion of topography and source‐receiver geometry. The three‐dimensional P wave velocity structure and hypocenters are determined simultaneously, while the three‐dimensional Swave velocity model is determined using the relocated seismicity and an initial S wave velocity model derived from the P wave velocity model assuming an average Vp/Vs ratio of 1.78. Convergence is steady with approximately 73% and 52% reduction in P and Swave arrival time RMS, respectively, after 10 iterations. The most prominent feature observed in the three‐dimensional velocity models derived for both P and S waves is a relative low‐velocity, near‐vertical, pipelike structure approximately 1 km in diameter that extends from 1 to 6 km beneath sea level. This feature aligns axially with the bulk of seismicity and is interpreted as a highly fractured and altered zone encompassing a magma conduit. The velocity structure beneath the north flank of the volcano between depths of 1 and 6 km is characterized by large lateral velocity variations. High velocities within this region are interpreted as remnant dikes and sills and low velocities as regions along which magma migrates. No large low‐velocity body suggestive of a magma chamber is resolved in the upper 7–8 km of the crust.