The activation of dioxygen by FeII(Me3TACN)(S2SiMe2) (1) is reported. Reaction of 1 with O2 at -135 °C in 2-MeTHF generates a thiolate-ligated (peroxo)diiron complex FeIII2(O2)(Me3TACN)2(S2SiMe2)2 (2) that was characterized by UV-vis (λmax = 300, 390, 530, 723 nm), Mössbauer (δ = 0.53, |ΔEQ| = 0.76 mm s-1), resonance Raman (RR) (ν(O-O) = 849 cm-1), and X-ray absorption (XAS) spectroscopies. Complex 2 is distinct from the outer-sphere oxidation product 1ox (UV-vis (λmax = 435, 520, 600 nm), Mössbauer (δ = 0.45, |ΔEQ| = 3.6 mm s-1), and EPR (S = 5/2, g = [6.38, 5.53, 1.99])), obtained by one-electron oxidation of 1. Cleavage of the peroxo O-O bond can be initiated either photochemically or thermally to produce a new species assigned as an FeIV(O) complex, FeIV(O)(Me3TACN)(S2SiMe2) (3), which was identified by UV-vis (λmax = 385, 460, 890 nm), Mössbauer (δ = 0.21, |ΔEQ| = 1.57 mm s-1), RR (ν(FeIV═O) = 735 cm-1), and X-ray absorption spectroscopies, as well as reactivity patterns. Reaction of 3 at low temperature with H atom donors gives a new species, FeIII(OH)(Me3TACN)(S2SiMe2) (4). Complex 4 was independently synthesized from 1 by the stoichiometric addition of a one-electron oxidant and a hydroxide source. This work provides a rare example of dioxygen activation at a mononuclear nonheme iron(II) complex that produces both FeIII-O-O-FeIII and FeIV(O) species in the same reaction with O2. It also demonstrates the feasibility of forming Fe/O2 intermediates with strongly donating sulfur ligands while avoiding immediate sulfur oxidation.