Copper–dioxygen chemistry and the corresponding tyrosinase‐inspired reactivity are regarded as a torture track for computational chemistry, since a strong dependence of the results from the included amount of exact exchange, the basis set size and inclusion of empirical dispersion has been found. In the last years, density functional theory has become the workhorse for the investigation of reaction mechanisms in this area. Pure and hybrid functionals have been found to be useful to investigate the equilibrium between isomeric side‐on peroxide dicopper(II) species (
P
) and bis(
μ
‐oxo) dicopper(III) species (
O
). Moreover, the coordination of the phenolate to the Cu
2
O
2
core with subsequent hydroxylation step has been studied by several groups. Here, the results of whether the OO bond scission occurs before or after phenolate coordination depend on the size of the regarded system, and the question is still open whether a
P
or an
O
core performs the crucial C–H activation step. Further studies also focused on the Cu
2
O
2
species formation process starting with copper(I) and dioxygen and also on the ligand hydroxylation—always with view to experimental studies owing to the increasing computational power. Hence, the focus shifted from the study of rather small NH
3
‐stabilized systems to realistic and sometimes even catalytically active complexes. Methodology benchmarking moved to coupled‐cluster methods and finally toward benchmarking of energies of experimentally determined equilibria. Together with potential energy surface (PES) scans, charge decomposition analyses (CDA), and natural bonding orbital (NBO) analyses, important insights into the reaction mechanisms have been obtained and many more will be awaited to resolve the full catalytic cycle of tyrosinase.