Star formation laws are empirical relations between the cold gas (HI+H2) content of a galaxy and its star formation rate (SFR), being crucial for any model of galaxy formation and evolution. A well known example of such laws is the Schmidt-Kennicutt law, which is based on the projected surface densities. However, it has been long unclear whether a more fundamental relation exists between the intrinsic volume densities. By assuming the vertical hydrostatic equilibrium, we infer radial profiles for the thickness of gaseous discs in a sample of 23 local galaxies, and use these measurements to convert the observed surface densities of the gas and the SFR into the de-projected volume densities. We find a tight correlation linking these quantities, that we call the volumetric star formation law. This relation and its properties have crucial implications for our understanding of the physics of star formation.