We review the previously compiled seismic magnitudes for underground nuclear explosions at the Union of the Soviet Socialist Republics Novaya Zemlya Test Site, and analyze these data in the context of published details about individual tests and official Russian reports of annual cumulative explosive energy release at the test site. We derive relationships between teleseismic body wave magnitude and explosive yield Y by predicting the yield of each test using and minimizing the difference between predicted and reported annual cumulative yield. A linear relationship between and logY with a slope of 0.82 provides a good fit to the annual total yield, with a root mean square (rms) misfit of 0.095 logY units. A spectral magnitude relationship based on the explosion source model of Mueller and Murphy (1971) with a single‐free‐parameter provides a slightly better fit. For the 10 tests for which individual yields can be directly deduced from the official reports, the rms misfit of reported yields is less than 0.1 logY units or about 25%. More complex relationships that differentiate between the northern and southern test areas, or take account of variations in the scaled depth of burial, do not provide substantially better fits to the reported yields.