The present invention relates to methods that involve administration of an anti-S1 P antibody or antibody fragment or derivative to a subject having or suspected of having an ocular disease or condition, including one involving choroidal neovascularization, in order to achieve a desired effect. Such effects include reducing the size of a choroidal neovascularization lesion in the eye, decreasing or resolving retinal pigment epithelial detachment, decreasing central retinal lesion thickness, and preserving or improving visual acuity. Pharmaceutical compositions comprising an anti-S1 P antibody for ocular administration are also provided. The compositions and methods are particularly useful for treating subjects having age-related macular degeneration, particularly exudative or wet age-related macular degeneration.