The correlation of global ocean surface temperatures with ocean heat content (OHC) at interannual to decadal time scales shows wind‐driven ocean circulation plays a fundamental role in the Earth's energy balance. Wind‐driven baroclinic Rossby waves contribute to the adjustment of the ocean circulation to the winds modulating OHC at mid‐latitudes. Here we use observational records, a reanalysis and a Rossby wave model to quantify the contribution of the waves to the variations in air‐sea heat flux. We find that Rossby waves crossing the South Pacific at 35°S can explain up to 70% of the interannual variance of the heat flux. The heat exchange attributed to the waves, ranging from −9 to 21 W m−2, has contributed to the multi‐year increase in heat in the central Pacific. Heat fluxes due to Rossby waves could be forecast to provide predictability of this component of the heat exchange with the atmosphere. Plain Language Summary: The interaction between heat stored in the ocean and the exchange of heat between the ocean and atmosphere is critical in the redistribution of heat in the climate system. Wind‐driven oceanic Rossby waves are planetary‐scale waves that propagate westward across ocean basins and modulate heat stored in the ocean. However, it is unclear how much of that ocean heat content modulated by the waves is transferred to the atmosphere. Here, we use data and a theoretical model to quantify the heat exchange with the atmosphere brought about by the Rossby waves in the South Pacific Ocean. We find that the Rossby waves at 35°S can explain up to 70% of year‐to‐year variance in the heat flux after the seasonal cycle is removed. The heat flux averaged along the phase of the waves ranges between −9 and 21 W m−2 and has contributed to the multi‐year increase in heat in the central Pacific linked to the Chilean mega‐drought. Key Points: Wind‐driven ocean adjustment explains much of the change in ocean heat content and the flux of heat to the atmosphereThe heat exchange attributed to the Rossby waves, after seasonality is removed, ranges from −9 to 21 W m−2The results suggest forecasted heat fluxes due to Rossby waves could provide predictability on ocean heat exchange with the atmosphere [ABSTRACT FROM AUTHOR]