San Pedro is one of the most frequently visited of the 1733 wrecksites due to its designation and interpretation as an Underwater Archaeological Preserve and a Florida State Park. The 287-ton Dutch-built ship was owned by Gaspar de Larrea Berdugo and captained by Gaspar López de Gonzales. She was loaded with New World goods including silver, cochineal, indigo, Chinese porcelain, and other general cargo. After the hurricane struck, San Pedro passed over the reef before sinking in Hawk Channel, off Lower Matecumbe Key, 1.25 nautical miles south of Indian Key. The vessel was full of water and her decks awash, but nearly all the cargo was salvaged and taken to a nearby real (salvage camp) on Indian Key.

San Pedro's ballast mound is located in a sand pocket surrounded by grass in 18 feet of water. The wrecksite is ringed with six mooring buoys that encourage visitation and protect the site from anchor damage. Seven replica cannons and a contemporary anchor were placed on the site to provide visitors with a visual representation of the shipwreck as it appeared before being disturbed; one cannon has become buried in the sand and currently is not visible. A plaque is located at the southeast end of the ballast and designates the wreck as a State Underwater Archaeological Preserve. Natural features include at least ten species of living corals, lobsters, crabs, shrimp, gobies, drums, damselfish, wrasses, snappers, groupers, spadefish, eels, grunts, hogfish, scorpionfish, tangs, jellyfish, and flounders.

Location: 24° 51.802'N 80° 40.780'W.