Water splitting via two two-electron processes (the H 2 O first photocatalytically converted to H 2 and H 2 O 2 under visible light irradiation and then the H 2 O 2 disproportionation to H 2 O and O 2 by a thermal catalytic process) has attracted extensive attention recently. 1,2 Contrary to these reports, we found that not only the photocatalytic H 2 generation could be driven by visible light but also the two-electron H 2 O 2 disproportionation to form H 2 O and O 2 could also be photocatalyzed by visible light over g-C 3 N 4 catalysts. Photocatalytic H 2 , O 2 generation, and simultaneous H 2 O 2 formation in Cu/C 3 N 4 and Fe/C 3 N 4 dispersions were confirmed, about 2.1 and 1.4 μmol of H 2 and 0.8 and 0.5 μmol of O 2 evolved over Cu/C 3 N 4 and Fe/C 3 N 4 in 12 h, respectively. To prove the photocatalytic process of H 2 O 2 disproportionation, the H 2 O 2 was added as a reagent in g-C 3 N 4 , Cu/C 3 N 4 , and Fe/C 3 N 4 dispersions. The results showed that the activity of H 2 evolution decreased with the increase of H 2 O 2 concentration; the corresponding AQEs of oxygen formation were 16.1%, 42.6%, and 78.5% at 400 nm, respectively. The remarkable increase of anodic photocurrents over Fe/ C 3 N 4 /ITO and Cu/C 3 N 4 /ITO electrodes indicated that the two-electron H 2 O 2 disproportionation was catalyzed via surface photocatalytic mechanism. The ESR results implied reaction occurred by O 2 − • radical path over g-C 3 N 4 under irradiation.