The mature form of green fluorescent protein (GFP) is generated by a spontaneous self-modification process that is essentially irreversible. A key step in chromophore biosynthesis involves slow air oxidation of an intermediate species, in which the backbone atoms of residues 65-67 have condensed to form a five-membered heterocycle. We have investigated the kinetics of hydrogen peroxide evolution during in vitro GFP maturation and found that the H2O2 coproduct is generated prior to the acquisition of green fluorescence at a stoichiometry of 1:1 (peroxide/chromophore). The experimental progress curves were computer-fitted to a three-step mechanism, in which the first step proceeds with a time constant of 1.5 (+/- 1.1) min and includes protein folding and peptide cyclization. Kinetic data obtained by HPLC analysis support a rapid cyclization reaction that can be reversed upon acid denaturation. The second step proceeds with a time constant of 34.0 (+/- 1.5) min and entails rate-limiting protein oxidation, as supported by a mass loss of 2 Da observed for tryptic peptides derived from species that accumulate during the reaction. The final step in GFP maturation proceeds with a time constant of 10.6 (+/- 1.2) min, suggesting that this step may contribute to overall rate retardation. We propose that under highly aerobic conditions, the dominant reaction path follows a cyclization-oxidation-dehydration mechanism, in which dehydration of the heterocycle is facilitated by slow proton abstraction from the Tyr66 beta-carbon. In combination, the results presented here suggest a role for molecular oxygen in trapping the cyclized form of GFP.