This article proposes a model predictive control (MPC)-based depth control system for the gliding motion of a gliding robotic dolphin. An injector-based buoyancy-driven mechanism is employed to achieve more precise control of net buoyancy. In the system, a novel framework of depth control is proposed on the basis of a simplified model, including a depth controller with improved MPC, a heading controller with velocity-based proportional-integral-derivative, and a sliding mode observer. Extensive simulation and experimental results demonstrate the effectiveness of the proposed control methods. In particular, a variety of slider-based experiments are also conducted to explore the performance of a movable slider in the depth control so as to better govern the gliding angle. The results obtained reveal that it is feasible to realize regular gliding angles via regulating the slider, which offers promising prospects for bio-inspired gliding robots playing a key role in ocean exploration.