The application of probabilistic methods to biostratigraphy and chronostratigraphy is founded on a well-defined theoretical base with few limitations on the type of events used or their maximum number, potentially allowing for universal application and high resolution. The application is demonstrated by example using new biostratigraphic concepts and an equatorial Pacific Ocean data set of 330 spp. of Tertiary marine planktonic fossils from 32 geologic sections collected by the Deep Sea Drilling Project (DSDP). The major result of the application to the Pacific Ocean data set is a standardized biostratigraphic correlation scheme that is significant because it is interpreted within an internally consistent, time stratigraphic framework for the data set. Considering the universal scope of probabilistic methods, a systematic approach to develop a standardized global chronostratigraphic reference system utilizing diverse time significant, stratigraphic data is envisioned. This reference would have a fundamental impact on the interpretation of earth history by providing a worldwide baseline of mappable stratigraphic data precisely related in geologic time.