In this study, we evaluate the thermodynamic structure of laminar hydrogen/oxygen flames at supercritical pressures using 1D flame calculations and large-eddy simulation (LES) results. We find that the real fluid mixing behavior differs between inert (cold flow) and reactive (hot flow) conditions. Specifically, we show that combustion under transcritical conditions is not dominated by large-scale homogeneous real-fluid mixing: similar to subcritical atomization, the supercritical pure oxygen stream undergoes a distinct transition from liquid-like to gas-like conditions; significant mixing and combustion occurs primarily after this transition under ideal gas conditions. The joint study of 1D flame computations and LES demonstrates that real-fluid behavior is chiefly confined to the bulk LOX stream; real fluid mixing occurs but in a thin layer surrounding the LOX core, characterized by water mass fractions limited to 3%. A parameter study of 1D flame solutions shows that this structure holds for a wide range of relevant injection temperatures and chamber pressures. To analyze the mixing-induced shift of the local fluid critical point, we introduce a state-space representation of the flame trajectories in the reduced temperature and reduced pressure plane which allows for a direct assessment of the local thermodynamic state. In the flame, water increases the local mixture critical pressures, so that subcritical conditions are reached. This view of limited mixing under supercritical conditions may yield more efficient models and an improved understanding of the disintegration modes of supercritical flows. (C) 2018 The Combustion Institute. Published by Elsevier Inc. All rights reserved.