Despite outstanding advances throughout this century, we still lack final knowledge on the structure of the water molecule because of a number of insufficiencies in available models identified in the text. In a preceding paper we submitted a covering of quantum chemistry called hadronic chemistry in its isochemical branch, and introduce a new model of the hydrogen molecule characterized by a bond at short distances of the two Valence electrons into a singlet quasi-particle state called isoelectronium. In this paper we introduce, apparently for the first time, the isochemical model of the water molecule which is characterized by two isoelectronia, one per each H-O dimer and show that the model: (1) introduces a new strong force responsible for the molecular bond; (2) explains the reason why the water molecule has only two hydrogen atoms; (3) provides an accurate representation of the binding energy from the first axiomatic principles without ad hoc modifications; (4) permits a correct representation of electric and magnetic moments; and (5) reduces by at least a factor of 1000 computer usages for calculations due to a much faster convergent series. Experimental verifications, applications and novel predictions of the model are studied in subsequent papers.