There has been considered a poorly studied form of activated oxygen singlet oxygen. Its physicochemical properties (electron configuration of a molecule, reactive capacity, features) are analyzed, and enzymic and nonenzymic ways of singlet oxygen generation in body are specified. There are shown in detail biological effects of compound as a regulator of cell activity including that determining mechanism of apoptosis initiation. The relation of singlet oxygen and photodynamic effect is described. There is organized data on molecular and cell mechanisms of singlet oxygen effect of biological systems. Singlet oxygen due to its high reactivity is shown to have damage effect on structural proteins, enzymes and nucleic acids resulting in different pathologies (diabetes mellitus, cardiovascular diseases, cataract, etc.). On cell level, the target of singlet oxygen effect is cell membranes where phospholipid oxidative degradation is initiated by singlet oxygen. There is considered role of singlet oxygen as a central molecule providing effect of photodynamic therapy due to regulation of the ensemble of active oxygen forms. The rational use of properties of singlet oxygen as its active form is emphasized to be base of photodynamic therapy. The latter is used in particular, in oncological and cardiosurgical pathologies.