The Paleocene epoch immediately followed the mass extinction event at the end of the Cretaceous, known as the K-T boundary (Cretaceous - Tertiary), which marks the demise of the dinosaurs. The die-off of the dinosaurs left unfilled ecological niches worldwide, and the name "Paleocene" comes from Greek and refers to the "old(er)" (παλαιός, palaios) – "new" (καινός, kainos) fauna that arose during the epoch, before modern mammalian orders emerged in the Eocene.
The end of the Paleocene (55.5/54.8 Ma) was marked by one of the most significant periods of global change during the Cenozoic. The Paleocene-Eocene Thermal Maximum upset oceanic and atmospheric circulation and led to the extinction of numerous deep-sea benthic foraminifera and a major turnover in mammals on land.
The Paleocene is divided into three stages, from youngest to oldest:
| Thanetian | (58.7 ± 0.2 – 55.8 ± 0.2 Ma) |
| Selandian | (61.7 ± 0.2 – 58.7 ± 0.2 Ma) |
| Danian | (65.5 ± 0.3 – 61.7 ± 0.2 Ma) |
South and North America remained separated by equatorial seas (they joined during the Neogene); the components of the former southern supercontinent Gondwanaland continued to split apart, with Africa, South America, Antarctica and Australia pulling away from each other. Africa was heading north towards Europe, slowly closing the Tethys Ocean, and India began its migration to Asia that would lead to a tectonic collision and the formation of the Himalayas. The inland seas in North America (Western Interior Seaway) and Europe had receded by the beginning of the Paleocene, making way for new land-based flora and fauna.
The warm temperatures world-wide gave rise to thick tropical, sub-tropical and deciduous forest cover around the globe (the first recognizably modern rain forests) with ice-free polar regions covered with coniferous and deciduous trees. With no large grazing dinosaurs to thin them, Paleocene forests were probably denser than those of the Cretaceous.
Flowering plants (angiosperms), first seen in the Cretaceous, continued to develop and proliferate, and along with them coevolved the insects that fed on these plants and pollinated them.
While early mammals were small nocturnal animals that mostly ate soft plant material and small animals such as insects, the demise of the dinosaurs and the beginning of the Paleocene saw mammals growing bigger and occupying a wider variety of ecological niches. Ten million years after the death of the dinosaurs, the world was filled with rodent-like mammals, medium sized mammals scavenging in forests, and large herbivorous and carnivorous mammals hunting other mammals, birds, and reptiles.
Fossil evidence from the Paleocene is scarce, and there is relatively little known about mammals of the time. Because of their small size (constant until late in the epoch) early mammal bones are not well-preserved in the fossil record, and most of what we know comes from fossil teeth (a much tougher substance), and only a few skeletons.
Paleocene mammals did not yet have specialized teeth or limbs, and their brain to body mass ratios were quite low; compared to later forms, they are considered primitive, or archaic. It was not until the Eocene, 55 Ma, that true modern mammals developed.
Mammals of the Paleocene include:
Examples of champsosaurs of the Paleocene include Champsosaurus gigas, the largest champsosaur ever discovered. This creature was unusual among Paleocene reptiles in that C. gigas became larger than its known Mesozoic ancestors: C. gigas is more than twice the length of the largest Cretaceous specimens (3 meters versus 1.5 meters). Reptiles as a whole decreased in size after the K-T event. Champsosaurs declined towards the end of the Paleocene and became extinct at the end of the Eocene.
Examples of Paleocene crocodylians are the euschian crocodylid Borealosuchus (formerly Leidyosuchus) formidabilis, the apex predator and the largest animal of the Wannagan Creek fauna, and the alligatorid Wannaganosuchus.
Dinosaurs may have survived to some extent into the early Danian stage of the Paleocene Epoch circa 64.5 Mya. The controversial evidence for such is a hadrosaur leg bone found from Paleocene strata from 64.5 Mya in Australia; but such stray late forms may be derived fossils.
Birds began to re-diversify during the epoch, occupying new niches. Most modern bird types had appeared by mid-Cenozoic, including perching birds, cranes, hawks, pelicans, herons, owls, ducks, pigeons, loons, and woodpeckers.
Large carnivorous flightless birds (also called Terror Birds) have been found in late Paleocene fossils, including the fearsome Gastornis in Europe.
In the late Paleocene, early owl types appeared, such as Ogygoptynx in the United States and Berruornis in France.
Marine faunas also came to resemble modern faunas, with only the marine mammals and the Carcharhinid sharks missing.