In the catalytic mechanism of nucleotide reduction, ribonucleoside triphosphate reductase (RTPR) from Lactobacillus leichmannii catalyzes the homolytic cleavage of the carbon-cobalt bond of adenosylcobalamin (AdoCbl) at a rate approximately 10(11)-fold faster than the uncatalyzed reaction. Model systems have suggested hypotheses for the thermodynamic basis of this reaction, but relevant measurements of the enzymatic reaction have been lacking. To address this question in a system for which the microscopic rate constants can be measured as a function of temperature, we examined the RTPR-catalyzed exchange reaction. RTPR, in the presence of allosteric effector dGTP and in the absence of substrate, catalyzes carbon-cobalt bond homolysis and formation of a thiyl radical from an active-site cysteine in a concerted fashion [Licht, S., Booker, S. , Stubbe, J. (1999) Biochemistry 38, 1221-1233]. Both the kinetics of cob(II)alamin formation and the amounts of cob(II)alamin formed have been studied as a function of AdoCbl concentration and temperature. Analysis of these data has allowed calculation of a DeltaH of 20 kcal/mol, a DeltaS of 70 cal mol-1 K-1, a DeltaH of 46 kcal/mol, and a DeltaS of 96 cal mol-1 K-1 for carbon-cobalt bond homolysis/thiyl radical formation. The results further show that the enzyme perturbs the equilibrium between the reactant (AdoCbl-bound) state and the product (cob(II)alamin/5'-deoxyadenosine (5'-dA)/thiyl radical state, making them approximately equal in energy. The thermodynamic perturbation, in addition to transition-state stabilization, is required for the large rate acceleration observed. Entropic, rather than enthalpic, factors make the largest contribution in both cases.