Redox potential of peroxidases greatly influences the range of oxidizable substrates: in principle, peroxidases may only catalyze the oxidation of substrates with lower redox potential. There is substantial information on the factors that modulate the redox potential of heme proteins. Both theoretical and experimental evidence highlight the most significant contributions arising from the interaction of heme iron with the axial ligands, as well as the electrostatic interactions surrounding the heme group. However, for different proteins, the factors contribute to different extents. Understanding the electrochemistry of heme peroxidases is fundamental in order to design enhanced biocatalysts. In this chapter, current knowledge of the forces influencing redox potential of heme peroxidases is reviewed.