Meteorological records of monsoon rainfall in the Indian Ocean are generally less than 100 years long. The relative brevity of these records makes it difficult to investigate monsoon variation on decadal and centennial timescales, to determine what factors influence the intensity of rainfall on these timescales, or to place possible changes in the twentieth century into a broader historical context. Development of a geologic proxy for rainfall that records annual variation in the monsoon over much longer time periods than are covered by instrumental records would be a significant step forward. We have developed an annually resolved record of monsoon rainfall variation for the past 780 years based on annual layer thickness and stable isotope analyses of a laminated stalagmite from southern Arabia. Our results show that monsoon variation over the past century is not outside of the range of the past 800 years. Decreasing monsoon rainfall over the past century is related to increasing sea surface temperature in the Indian Ocean. Spectral analyses of the record are dominated by cycles that are similar to those observed in records of solar activity on centurial timescales. Decadal to interannual cycles in the record appear to originate in the tropical Pacific Ocean.