Water molecules are commonly observed in crystal structures of protein-ligand complexes where they mediate protein-ligand binding. It is of considerable theoretical and practical importance to determine quantitatively the individual free energy contributions of these interfacial water molecules to protein-ligand binding and to elucidate factors that influence them. The double-decoupling free energy molecular dynamics simulation method has been used to calculate the binding free energy contribution for each of the four interfacial water molecules observed in the crystal structure of HIV-1 protease complexed with KNI-272, a potent inhibitor. While two of these water molecules contribute significantly to the binding free energy, the other two have close to zero contribution. It was further observed that the protonation states of two catalytic aspartate residues, Asp25 and Asp125, strongly influence the free energy contribution of a conserved water molecule Wat301 and that different inhibitors significantly influence the free energy contribution of Wat301. Our results have important implications on our understanding of the role of interfacial water molecules in protein-ligand binding and to structure-based drug design aimed at incorporating these interfacial water molecules into ligands.