The mechanism for the decarboxylation of oxaloacetate by oxaloacetate decarboxylase proceeds by way of a metal ion-oxaloacetate-enzyme complex through the enol form of pyruvate to the keto form of pyruvate. The reverse reaction should then lead to the enol from the keto form of pyruvate, so that the enzyme in the presence of metal ion should catalyze the exchange of hydrogen atoms of pyruvate with the solvent. This prediction has been realized; the rate of the reaction has been measured by nuclear magnetic resonance techniques. This catalyzed hydrogen exchange has been found to be both metal-ion dependent and inhibited by oxalate, as is the catalyzed decarboxylation of oxaloacetate and the catalyzed NaBH4 reduction of pyruvate. © 1968, American Chemical Society. All rights reserved.