To elucidate the mechanism of action of various antioxidants, we studied the kinetics of chemiluminescence accompanying phospholipid liposomes peroxidation, induced by divalent iron ions in the presence of C-525, a chemiluminescence activator. EDTA and desferal reduced of the chemiluminescence latent period, which, probably, resulted from chelating the Fe2+ ions, which thus drop out of reactions of chain oxidation in a lipid phase. Ascorbate, on the contrary, increased the chemiluminescence latent period, apparentlym as a result of regeneration of divalent iron that was oxidized during lipid peroxidation. Under the action of alpha-tocopherol and rutin, the amplitude of the chemiluminescence slow flash decreased along with the increase in the latent period duration. beta-carotene displayed its effects only in a rather high concentration, at which the observed decrease in the chemiluminescence intensity could be caused (at least partially) by reabsorpion of CL by this compound. No changes in the latent period duration were observed in these experiments.