Excited-state properties and one-electron reduction of C60 in aqueous gamma-cyclodextrin (gamma-CD) solutions have been studied by laser flash photolysis and pulse radiolysis techniques. The difference absorption spectrum of C60- anion radical in aqueous gamma-CD solution has been characterized by reducing C60 with radiolytically produced radicals (e(aq)-, (CH3)2COH or MV.+). The one-electron reduction potential of the ground-state C60 in aqueous gamma-cyclodextrin solution (E-degrees = -0.25 V vs NHE) has been measured by equilibrating fullerene solution with MV2+/MV.+ couple. Inorganic anions, such as N3-, I-, NO2-, ClO2- and SCN-, quench the excited triplet C60 and participate in the electron-transfer process.