To probe photoinduced water oxidation catalyzed by the Mn₄O₄L₆ cubane clusters, we have computationally studied the mechanism and controlling factors of the O₂ formation from the [Mn₄O₄L₆] catalyst, 6. It was demonstrated that dissociation of an L = H₂PO₂⁻ ligand from 6 facilitates the direct O-O bond formation that proceeds with a 28.3 (33.4) kcal/mol rate-determining energy barrier at the transition state TS1. This step (the O-O single bond formation) of the reaction is a two-electron oxidation/reduction process, during which two oxo ligands are transformed into to μ²:η²-O₂²⁻ unit, and two ("distal") Mn centers are reduced from the 4+ to the 3+ oxidation state. Next two-electron oxidation/reduction occurs by "dancing" of the resulted O₂²⁻ fragment between the Mn¹ and Mn²/Mn(2')-centers, keeping its strong coordination to the Mn(1')-center. As a result of this four-electron oxidation/reduction process Mn centers of the Mn₄-core of I transform from {Mn¹(III)-Mn(1')(III)-Mn²(IV)-Mn(2')(IV)} to {Mn¹(II)-Mn(1')(II)-Mn²(III)-Mn(2')(III)} in IV. In other words, upon O₂ formation in cationic complex [Mn₄O₄L₅](+), I, all four Mn-centers are reduced by one electron each. The overall reaction I → TS1 → II → III → TS2 → IV → TS3 → V → VI + O₂ is found to be exothermic by 15.4 (10.5) kcal/mol. We analyze the lowest spin states and geometries of all reactants, intermediates, transition states, and products of the targeted reaction.