The "peroxy" intermediate (P form) of bovine cytochrome c oxidase was prepared by reaction of the two-electron reduced mixed-valence CO complex with O-18(2) after photolytic removal of CO. The water present in the reaction mixture was recovered and analyzed for O-18 enrichment by mass spectrometry, It was found that approximately one oxygen atom (O-18) per one equivalent of the P form was present in the bulk water. The data show that the oxygen-oxygen dioxygen bond is already broken in the P intermediate and that one oxygen atom can be readily released or exchanged with the oxygen of the solvent water.