A hallmark of the rapid and massive release of carbon during the Palaeocene–Eocene Thermal Maximum is the global negative carbon isotope excursion. The delayed recovery of the carbon isotope excursion, however, indicates that CO₂ inputs continued well after the initial rapid onset, although there is no consensus about the source of this secondary carbon. Here we suggest this secondary input might have derived partly from the oxidation of remobilized sedimentary fossil carbon. We measured the biomarker indicators of thermal maturation in shelf records from the US Mid-Atlantic coast, constructed biomarker mixing models to constrain the amount of fossil carbon in US Mid-Atlantic and Tanzania coastal records, estimated the fossil carbon accumulation rate in coastal sediments and determined the range of global CO₂ release from fossil carbon reservoirs. This work provides evidence for an order of magnitude increase in fossil carbon delivery to the oceans that began ~10–20 kyr after the event onset and demonstrates that the oxidation of remobilized fossil carbon released between 10² and 10⁴ PgC as CO₂ during the body of the Palaeocene–Eocene Thermal Maximum. The estimated mass is sufficient to have sustained the elevated atmospheric CO₂ levels required by the prolonged global carbon isotope excursion. Even after considering uncertainties in the sedimentation rates, these results indicate that the enhanced erosion, mobilization and oxidation of ancient sedimentary carbon contributed to the delayed recovery of the climate system for many thousands of years.