Despite the importance of treefall gaps in tropical forest dynamics, few studies have followed gap-phase processes for more than 2 y. We monitored, for five years, the growth and survival of many seedlings of Tetragastris panamensis (Engler) O. Kuntze, Protium panamense (Rose) I. M. Johnston, and Desmopsis panamensis (Rob.) Saff. (three common tree species of the Panamanian tropical moist forest) in artificially created treefall gaps and under intact-canopy control plots. On these same plots, we also monitored light levels using hemispherical photographs taken over an 8-y period. Seedling height growth was faster in gaps than under intact canopies during the first 42 mo of regrowth, then declined to rates similar to those under intact canopies. Light levels in gaps similarly rose and fell, returning to pre-gap levels by month 48. Only Tetragastris panamensis showed higher survival in gaps, contrary to the general assumption that seedling survival is enhanced by gap creation. Our results document important transition points that mark the conclusion of the gap phase, suggesting an estimate of 4y for the duration of the gap phase in this tropical forest.