A system of kinetic equations describing the changes in the concentration of reactive oxygen species (ROS) in aqueous solutions of proteins was obtained from the analysis of chemical reactions involving singlet oxygen. Applying the condition of the stationarity of the intermediate products to the system, we determined the functional dependence of the hydrogen peroxide concentration on the protein concentration under the action of thermal and laser radiation. An approximate analytical solution to the nonlinear system of differential equations that define the ROS concentration dynamics was found. For aqueous solutions of bovine serum albumin (BSA) and bovine gamma globulin (BGG), the orders and rate constants of the reactions describing the ROS conversions were determined by minimizing the sum of squared deviations of the functions found by solving both the static and dynamic problems from experimentally measured dependences. When solving the optimization problem, the Levenberg–Marquardt algorithm was used.