Diurnal variations in photosynthesis, chlorophyll fluorescence, xanthophyll cycle, antioxidant enzymes and antioxidant metabolism in leaves in response to low sink demand caused by fruit removal (-fruit) were studied in 'Zaojiubao' peach (Prunus persica (L.) Batch) trees during the final stage of rapid fruit growth. Compared with the retained fruit treatment (+fruit), the -fruit treatment resulted in a significantly lower photosynthetic rate, stomatal conductance and transpiration rate, but generally higher internal CO2 concentration, leaf-to-air vapor pressure difference and leaf temperature. The low photosynthetic rate in the -fruit trees paralleled reductions in maximal efficiency of photosystem 11 (PSII) photochemistry and carboxylation efficiency. The midday depression in photosynthetic rate in response to low sink demand resulting from fruit removal was mainly caused by non-stomatal limitation. Fruit removal resulted in lower quantum efficiency of PSII as a result of both a decrease in the efficiency of excitation capture by open PSII reaction centers and an increase in closure of PSII reaction centers. Both xanthophyll-dependent thermal dissipation and the antioxidant system were up-regulated providing protection from photo-oxidative damage to leaves during low sink demand. Compared with the leaves of +fruit trees, leaves of -fruit trees had a larger xanthophyll cycle pool size and a higher de-epoxidation state, as well as significantly higher activities of antioxidant enzymes, including superoxide dismutase, ascorbate peroxidase, monodehydroascorbate reductase, dehydroascorbate reductase, glutathione reductase and a higher reduction state of ascorbate and glutathione. However, the -fruit treatment resulted in higher hydrogen peroxide and malondialdehyde concentrations compared with the +fruit treatment, indicating photo-oxidative damage.