The molecular entity that catalyzes ferredoxin (Fd)-dependent cyclic electron flow around photosystem I (PSI) (Fd-CEF) remains unknown. To elucidate the in vivo molecular mechanism of Fd-CEF, the evaluation of Fd reduction‒oxidation kinetics is a good indicator of Fd-CEF activity. Recent research showed that the expression of Fd-CEF activity requires the oxidation of plastoquinone, and furthermore, chloroplast NAD(P)H dehydrogenase does not catalyze Fd-CEF in Arabidopsis thaliana. In the present research, the effect of reduced Fd on Fd-CEF activity was analyzed by comparing wild-type and pgr5-deficient mutants (pgr5hope1). PGR5 has been proposed to be the mediator of Fd-CEF, and pgr5hope1 showed the same CO2 assimilation rate and the same reduction‒oxidation level of PQ as WT, but P700 oxidation with Fd was highly reduced, unlike WT. As expected, the activity of Fd-CEF was enhanced in pgr5hope1 compared to the wild type, and its activity was also enhanced with the oxidation of PQ by the increase in the CO2 assimilation rate. The present in vivo research clearly shows that the expression of Fd-CEF activity requires reduced Fd in addition to oxidized PQ, and PGR5 does not catalyze Fd-CEF.