Understanding oxygen reduction reaction (ORR) mechanisms is of fundamental significance. Although metal hydrosuperoxos and metal hydroperoxos are considered to be key intermediates in ORR, these two species as well as their reaction natures are poorly understood because they are highly active with various reaction pathways. Herein, we report on the mechanistic studies of the ORR with CoII porphyrin 1. Complex 1 is selective for catalytic O2-to-H2O2 conversion with decamethylferrocene as the reductant and HClO4 as the proton source. By employing the molecular pocket of 1 to stabilize the O2-adducts, we characterized CoIII-hydrosuperoxo, [CoIII(O2•H)]+, and CoIII-hydroperoxo, [CoIII(O2H)], studied the one-electron reduction of [CoIII(O2•H)]+ to generate [CoIII(O2H)], and revealed a proton transfer-electron transfer (PTET) pathway for [CoIII(O2H)] to generate CoII and H2O2. This work is therefore significant to confirm the key role of [CoIII(O2•H)]+ and [CoIII(O2H)] in the catalytic ORR cycle and to establish a PTET pathway of [CoIII(O2H)] to give H2O2.