According to the current paradigm, the metal− hydroxo bond in a six-coordinate porphyrin complex is believed to be significantly less reactive in ligand substitution than the analogous metal−aqua bond, due to a much higher strength of the former bond. Here, we report kinetic studies for nitric oxide (NO) binding to a heme-protein model, acetylated microperoxidase-11 (AcMP-11), that challenge this paradigm. In the studied pH range 7.4−12.6, ferric AcMP-11 exists in three acid− base forms, assigned in the literature as 2), and [(AcMP-11)Fe III (OH)(His − )] (3). From the pH dependence of the second-order rate constant for NO binding (k on ), we determined individual rate constants characterizing forms 1−3, revealing only a ca. 10-fold decrease in the NO binding rate on going from 1 (k on(1) = 3.8 × 10 6 M −1 s −1 ) to 2 (k on (2) = 4.0 × 10 5 M −1 s −1 ) and the inertness of 3. These findings lead to the abandonment of the dissociatively activated mechanism, in which the reaction rate can be directly correlated with the Fe−OH bond energy, as the mechanistic explanation for the process with regard to 2. The reactivity of 2 is accounted for through the existence of a tautomeric equilibrium between the major [(AcMP-11)Fe III (OH)(HisH)] (2a) and minor [(AcMP-11)Fe III (H 2 O)(His − )] (2b) species, of which the second one is assigned as the NO binding target due to its labile Fe−OH 2 bond. The proposed mechanism is further substantiated by quantum-chemical calculations, which confirmed both the significant labilization of the Fe−OH 2 bond in the [(AcMP-11)Fe III (H 2 O)(His − )] tautomer and the feasibility of the tautomer formation, especially after introducing empirical corrections to the computed relative acidities of the H 2 O and HisH ligands based on the experimental pK a values. It is shown that the "effective lability" of the axial ligand (OH − /H 2 O) in 2 may be comparable to the lability of the H 2 O ligand in 1.