Summary• Oxidative stress arises when desiccation restricts photosynthesis and light energy is transferred from photo-excited pigments onto ground state oxygen. We tested whether a highly desiccation tolerant lichen, Pseudevernia furfuracea , displays better protection against oxidative stress than more sensitive species, Lobaria pulmonaria and Peltigera polydactyla .• We rehydrated lichens after desiccation periods of 2, 7 and 9 weeks and assessed their viability by measuring CO 2 exchange using IRGA. During desiccation and rehydration, photosynthetic pigments and the antioxidant α -tocopherol were analysed by HPLC, and peroxidases by spectrophotometry.• Pseudevernia furfuracea contained considerably lower chlorophyll, α -tocopherol and β -carotene concentrations and peroxidase activity than the two other lichens. However, it recovered photosynthesis rapidly, even after remaining in the desiccated state for 2 months while there was a significant delay in the onset of photosynthesis in L. pulmonaria and P. polydactyla .• We conclude that high antioxidant concentrations do not necessarily indicate better adaptation to desiccation. Rather, the ability to rapidly re-establish the speciesspecific normal antioxidant concentrations during rehydration, even after longer desiccation times, is a characteristic of well-adapted species.