In nature, water oxidation is catalyzed by Mn4Ca clusters
in the oxygen-evolving complex (OEC) of photosystem II (PSII), in
which a manganese(V)-oxo species acts as an active reaction intermediate.
Electrons and protons taken from water in PSII are used to reduce
plastoquinone to plastoquinol via photoinduced charge separation in
the photosynthetic reaction center. In photosystem I (PSI), NADP+ coenzyme is reduced by plastoquinol via photoinduced charge
separation in the photosynthetic reaction center to produce NADPH,
which is used as a reductant to reduce CO2 to carbohydrates
in the Calvin cycle. Extensive efforts have so far been made to mimic
functions of PSII and PSI for photocatalytic water oxidation and reduction
to produce O2 and H2, respectively. Characterization
and reactivity of high-valent metal-oxo, -hydroperoxo, -peroxo, and
-superoxo intermediates have been investigated to clarify the mechanisms
of water oxidation. Metal hydride complexes have also been studied
in relation with the catalytic reactivity for water reduction to produce
H2 as well as NAD+ reduction to NADH. This Review
is intended to provide an overview on the functional model reactions
of PSII and PSI for the photocatalytic water oxidation and reduction,
respectively. The roles of high-valent metal-oxo, -hydroperoxo, -peroxo,
and -superoxo complexes as the reaction intermediates in photocatalytic
water oxidation are focused in relation with the catalytic mechanisms
of water oxidation. The roles of metal hydride complexes are also
discussed in relation with the catalytic mechanisms of hydrogen evolution
and NAD+ reduction to NADH. The combination of functional
model reactions of PSII and PSI leads to construct molecular artificial
photosynthetic systems in which water is split to H2 and
O2 in a 2:1 ratio, providing a way to realize artificial
photosynthesis in molecular levels.