In carob tree (Ceratonia siliqua) radiant energy saturated net photosynthetic rate (PN) during summer was about 10 % of the spring values. This was accompanied by a reduction in stomatal conductance (gs), which only partially explains the strong reduction in PN. Photosynthetic capacity (Pmax) and quantum yield (Φ), both measured under saturating CO2, had the maximum in spring (about 34 μmol m-2 s-1 and 0.08 mol mol-1, respectively) and both decreased in late summer to about 55 % of their spring values. Despite strong decreases in Φ, photoinhibition of photosystem 2 (PS2) was negligible or easily reversible in carob leaves subjected to summer drought, since Fv/Fm, measured in the morning, did not show appreciable changes. The recovery of affected parameters was very rapid after the first rains in late October. The chlorophyll (Chl) alb ratio in the end of the summer was 2.6, a value significantly lower than 3.6 obtained in the spring, suggesting that Chl a was preferentially reduced. and J. C. Ramalho, J. A. Lauriano, M. A. Nunes.