Mo/H-ZSM5 (1.0-6.3 wt % Mo; Mo/Al = 0.11-0.68) catalysts for CH4 aromatization were prepared from physical mixtures of MoO3 and H-ZSM5 (Si/Al = 14.3). X-ray diffraction and elemental analysis of physical mixtures treated in air indicate that MoOx species migrate onto the external ZSM5 surface at about 623 K. Between 773 and 973 K, MoOx species migrate inside zeolite channels via surface and gas phase transport, exchange at acid sites, and react to form H2O. The amount of H2O evolved during exchange and the amount of residual OH groups detected by isotopic equilibration with D-2 showed that each Mo atom replaces one H+ during exchange. This stoichiometry and the requirement for charge compensation suggest that exchanged species consist of (Mo2O5)(2+) ditetrahedral structures interacting with two cation exchange sites. The proposed mechanism may provide a general framework to describe the exchange of multivalent cadons onto Al sites in zeolites. As the Mo concentration exceeds that required to form a MoOx monolayer on the external zeolite surface (similar to 4 wt % Mo for the H-ZSM5 used), Mo species sublime as (MoO3), oligomers or extract Al from the zeolite framework to form inactive Al-2(MoO4)(3) domains detectable by Al-27 NMR. These (Mo2O5)(2+) species reduce to form the active MoCx species during the initial stages of CH4 conversion reactions. Optimum CH4 aromatization rates were obtained on catalysts with intermediate Mo contents (similar to 0.4 Mo/Al), because both MoCx and acid sites are required to activate CH4 and to convert the initial C2H4 products into C6+ aromatics favored by thermodynamics.