AbstractTropopause folds are intimately linked to upper level frontogenesis and jet stream dynamics. They play an important role for stratosphere‐troposphere exchange, the dynamical coupling of upper and lower tropospheric levels, and for generating severe weather events. This study presents a global climatology of tropopause folds using ERA‐Interim reanalysis data from 1979 to 2012 and a refined version of a previously developed 3‐D labeling and fold identification algorithm. This algorithm objectively separates stratospheric and tropospheric air in complex situations, e.g., in regions with strong low‐level inversions, and in extratropical cyclones where diabatically generated potential vorticity anomalies typically occur. Three classes of tropopause folds are defined (shallow, medium, and deep), and their geographical distribution, vertical extent, and seasonal cycle are investigated. Most shallow folds occur along the subtropical jet stream, in agreement with previous studies. Hot spots of medium and deep tropopause folds are found west of Australia and along the coast of Antarctica in the Southern Hemisphere and around the east coast of North America in the Northern Hemisphere. Seasonal cycles show maxima in winter for all fold classes. Medium and deep folds are frequently associated with surface wind gust and precipitation extremes, as quantified for folds over the southern Indian Ocean. Wind gust extremes occur mainly in an elongated band upstream and equatorward of folds, whereas precipitation extremes occur mainly east and poleward of folds. Overall, in the considered region, about 20% of medium folds and 33% of deep folds are associated with surface wind or precipitation extremes in the vicinity of the fold.