Oxide film formation on a smooth platinum electrode in perchloric acid solution has been studied as a function of potential, current, time, and electrode history, using constant current and controlled potential techniques. Anodic film formation proceeds through two, single electron steps: a slow step followed by a fast (reversible) one. During film reduction the fast step occurs first, followed by the slow step. In the case of constant current reduction the slow step does not occur, and the film is exactly half-reduced. Complete reduction requires several hours at a controlled potential. Three electrode states are thus clearly defined: oxidized, half-reduced (active), and completely reduced or clean. A single kinetic equation quantitatively relates the current, potential, and time parameters, predicts the initial rate of opencircuit potential decay following film formation, and strongly suggests that the oxide is a chemisorbed film.