Photosystem I is the light-driven plastocyanin-ferredoxin oxidoreductase in the thylakoid membranes of cyanobacteria and chloroplasts. In recent years, sophisticated spectroscopy, molecular genetics, and biochemistry have been used to understand the light conversion and electron transport functions of photosystem I. The light-harvesting complexes and internal antenna of photosystem I absorb photons and transfer the excitation energy to P700, the primary electron donor. The subsequent charge separation and electron transport leads to the reduction of ferredoxin. The photosystem I proteins are responsible for the precise arrangement of cofactors and determine redox properties of the electron transfer centers. With the availability of genomic information and the structure of photosystem I, one can now probe the functions of photosystem I proteins and cofactors. The strong reductant produced by photosystem I has a central role in chloroplast metabolism, and thus photosystem I has a critical role in the metabolic networks and physiological responses in plants.