Microcosms of a boreal peatland originating from an oligotrophic fen in Eastern Finland were fumigated under four ozone concentrations (0, 50, 100 and 150 ppb O3) in laboratory growth chambers during two separate experiments (autumn and summer) for 4 and 6 weeks, respectively. Ozone effects on Sphagnum mosses and the fluxes of carbon dioxide and methane were evaluated. In both experiments, the three Sphagnum species studied showed only a few significant responses to ozone. In the autumn experiment, membrane permeability of S. angustifolium, measured as conductivity and magnesium leakage, was significantly higher under ozone fumigation (P = 0.005 and < 0.001, respectively), and there was a distinct dose-dependence. S. magellanicum showed no clear responses, either for membrane leakage or pigment content. There were no substantial ozone responses in the gross photosynthesis or net CO2 exchange during the 6-week-long summer experiment, but dark ecosystem respiration was transiently increased by ozone concentration of 100 ppb after 14 days of exposure (P < 0.05). Fumigation with 100 ppb of ozone, however, more than doubled (P < 0.05) methane emission from the peatland monoliths. Our results suggest that increasing tropospheric ozone concentration may cause substantial changes in the carbon gas cycling of boreal peatlands, even though these changes are not closely associated with the changes in Sphagnum vegetation.