Range shifts are one mechanism by which corals can escape the adverse effects of climate change. To determine if genotypes capable of longer-range dispersal could be selected for under climate change, we quantified additive genetic variation in Acropora millepora larval dispersal-related traits. Using twenty full-sib families, we estimated heritability of four phenotypic traits relevant to larval dispersal: responsiveness to settlement cue, rates of lipid and protein loss, and red fluorescence. Significant variation in settlement and fluorescence was observed, with mean broad-sense heritability >0.45. RNA-seq identified genes whose expression was associated with these traits and assessed gene expression heritability across life history stages. Many larval genes showed differential expression across sires and the strongest effects were observed in genes implicated in genome stability and stress response, a likely consequence of heritable variation in condition. Expression profiles associated with variation in settlement included receptor activity and cell surface components, suggesting the heritable variation in sensory machinery. Gene expression associated with larval red fluorescence indicated that redder larvae exhibited differential regulation of genes associated with growth, metabolism, and stress response. We are now in the process of analyzing gene expression profiles of recruits from these same coral families to determine if this heritability of gene expression of larvae is maintained across life history stages. Overall these data demonstrate that significant heritable variation is available within coral populations that may serve as fuel for natural selection shaping novel adaptations under climate change.