[reaction: see text] Removal of one carbon atom from the C60 cage is achieved under mild conditions. The process involves the formation of fullerene-mixed peroxide, subsequent Lewis acid induced cleavage of O-O and C-O bonds, and thermolysis at 75 degrees C. In the proposed mechanism, the carbon atom is deleted as CO and an oxygen atom occupies the vacancy to form a furan ring. Single-crystal X-ray analysis confirmed the results.