Photophysical and photochemical properties of C120O, a C-60 dimer linked by a saturated furan ring, have been characterized by various time-resolved spectroscopic methods. A steady-state absorption band of C120O is blue-shifted compared with those of 1,2-adducts of C-60 (C60R) The fluorescence lifetime and quantum yield were estimated to be 1.7 ns and 8.7 x 10(-4), respectively, which are similar to those of C60R and C-120 On the other hand, the lifetime of the triplet excited state ((C120O)-C-3*) was estimated to be 0.16 mus, which is quite shorter than those of C-60 (55 mus), C60R (24-29 mus), and C-120 (23 mus). Furthermore, the quantum yield for the intersystem crossing process was as low as 0.48. These unusual triplet properties of (C120O)-C-3* indicate that the triplet excited C-60 moiety in (C120O)-C-3* was influenced by an adjacent pi -electron system of another C-60 moiety in the ground state. Ground-state reduction of C120O was observed in the reaction with tetrakis(dimethylamino)ethylene, indicating the stable radical anion formation of C120O, in contrast to the unstable radical anion of C-120. Photoinduced electron transfer from 1,4-diazabicyclo[2.2.2]octane to (C120O)-C-3* was confirmed by an observation of the transient absorption band of the radical anion of C120O in the near-IR region. oxidation of C120O was also performed by employing a cosensitization method. The reaction rate constants of the both photoinduced reduction and oxidation were slightly smaller than those of C-60 and C60R.