The Pd(I)-Pd(I) dimer [((F)PNP)Pd-](2) reacts with O(2) upon exposure to light to produce either the superoxide ((F)PNP)PdO(2) or the peroxide [((F)PNP)PdO-](2), which exist in equilibrium with free O(2). Both complexes contain square-planar Pd(II) centers. The unpaired electron density in ((F)PNP)PdO(2) is localized on the superoxide ligand.