Laboratory measurements show that lichens are extremely tolerant of freezing stress and of low-temperature exposure. Metabolic activity recovered quickly after severe and extended cold treatment. Experimental results demonstrate also that CO₂ exchange is already active at around −20°C. The psychrophilic character of polar lichen species is demonstrated by optimum temperatures for net photosynthesis between 0 and 15°C. In situ measurements show that lichens begin photosynthesizing below 0°C if the dry thalli receive fresh snow. The lowest temperature measured in active lichens was −17°C at a continental Antarctic site. The fine structure and the hydration state of photobiont and mycobiont cells were studied by low-temperature scanning electron microscopy (LTSEM) of frozen hydrated specimens. Water potentials of the frozen system are in the range of or even higher than those allowing dry lichens to start photosynthesis by water vapor uptake at +10°C. The great success of lichens in polar and high alpine regions gives evidence of their physiological adaptation to low temperatures. In general lichens are able to persist through glacial periods, but extended snow cover and glaciation are limiting factors.