Abstract Both volcano‐tectonic (VTs) and deep long‐period earthquakes (DLPs) have been documented at Akutan Volcano, Alaska and may reflect different active processes helpful for eruption forecasting. In this study, we perform high‐resolution earthquake detection, classification, and relocation using seismic data from 2005 to 2017 to investigate their relationship with underlying magmatic processes. We find that the 2,787 VTs and 787 DLPs are concentrated above and below the inferred magma reservoir respectively. They both are clustered as swarms and occur preferentially during inflation episodes with no spatial migrations. However, moment release rates of DLP swarms show a stronger correlation with inflation and their low‐frequency content is likely a source instead of a path effect. Therefore, we infer that DLPs are directly related to unsteady magma movement through a complex pathway. In comparison, repeating events are observed in VTs. Thus, we conclude that they represent fault rupture triggered by magma/fluid movement or larger earthquakes.