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Abstract Riverbank erosion in yedoma regions strongly affects landscape evolution, biogeochemical cycling, sediment transport, and organic and nutrient fluxes to the Arctic Ocean. Since 2006, we have studied the 35‐m‐high Itkillik River yedoma bluff in northern Alaska, whose retreat rate during 1995–2010 was up to 19 m/yr, which is among the highest rates worldwide. This study extends our previous observations of bluff evolution and shows that average bluff‐top retreat rates decreased from 8.7–10.0 m/yr during 2011–2014 to 4.5–5.8 m/yr during 2015–2019, and bluff‐base retreat rates for the same time period decreased from 4.7–7.5 m/yr to 1.3–1.7 m/yr, correspondingly. Bluff evolution initially involves rapid fluvio‐thermal erosion at the base and block collapse, following by slowdown in river erosion and continuing thermal denudation of the retreating headwall with formation of baydzherakhs. Eventually, input of sediment and water from the headwall diminishes, vegetation develops, and slope gradually stabilizes. The step change in the fluvial–geomorphic system has resulted in a 60% decline in the volumetric mobilization of sediment and organic carbon between 2011 and 2019. Our findings stress the importance of sustained observations at key permafrost region study sites to elucidate critical information related to past and potential landscape evolution in the Arctic.