A subsea electronic system is provided. The system comprises a pressure resistant enclosure (11) adapted to maintain a predetermined pressure inside the enclosure (11) when the system (10) is deployed under water, a heat generating electronic component (12) arranged in the enclosure (11), the electronic component (12) generating heat in operation, and a dielectric liquid (13) which at least partially fills said enclosure (11). The subsea electronic system (10) is configured such that when the subsea electronic system (10) is deployed under water in an operating state, the electronic component (12) is at least partially submerged in the dielectric liquid (13) and the dielectric liquid (13) is in contact with at least one wall (17) of the enclosure (11) so as to enable a transfer of heat from the heat generating electronic component (12) to the at least one wall (17) of the enclosure (11) via the dielectric liquid (13).