Carbonyl oxides have multiple impacts on the atmosphere and on combustion. This review focuses on what electronic structure calculations, particularly those involving
ab initio
composite methods and density functional theory (DFT), have revealed about carbonyl oxide chemistry in combustion and atmospheric systems. Reliable electronic structure calculations consistently reveal that carbonyl oxides have little diradical character, which means that much of their chemistry can be modeled accurately by single‐reference methods. Computation predicts that carbonyl oxides form in the low‐temperature combustion of ethers, and, given that carbonyl oxides form hydroxyl radical (
⋅
OH), they likely contribute to chain branching. The atmospheric ozonolysis of acyclic alkenes leads to moderately chemically activated carbonyl oxides, making it necessary to treat both their unimolecular and bimolecular reactions. CCSD(T) calculations with triple‐zeta basis sets and CCSD(T)‐based composite methods can predict aspects of carbonyl oxide chemistry like the yield of
⋅
OH that agree with experiment, but the accuracy of these predictions also depend on statistical thermodynamic assumptions. DFT predictions regarding carbonyl oxide chemistry are often inaccurate. Recent experimental studies have corroborated the long‐standing quantum chemical prediction that carbonyl oxides with alkyl substituents either
syn
or
anti
to the peroxy bond have dramatically different unimolecular and bimolecular reactivity.