Lytic polysaccharide monooxygenases (LPMOs) are mononuclear copper enzymes that act in synergy with glycoside hydrolases to saccharify the most abundant polysaccharides in nature. Both O2 and H2O2 can be cosubstrates for LPMOs. The Lentinus similis LPMO (LsAA9A) has previously been shown to oxidatively cleave oligosaccharides when supplied with ascorbate as a reductant. This study demonstrates that LsAA9A is unable to complete the catalytic cycle and cleave cellulose without H2O2. Instead, cellooligomers efficiently prevent the slow continuous oxidation of ascorbate taking place under ambient conditions in the absence of a substrate. LsAA9A specifically cleaves cellooligomers in a fast and stoichiometric reaction with H2O2 as a cosubstrate. However, the product profile contains more non-oxidized saccharides than anticipated by the generally accepted LPMO reaction scheme. The scission of glucosidic bonds and oxidation of the saccharide therefore appear not to be directly coupled. This was confirmed by the complete absence of oxidized products under anoxic conditions. A mechanism is proposed involving the hydrolysis of a cellulosic radical formed by a H2O2-derived caged hydroxyl radical. In addition, LsAA9A catalyzes another stoichiometric reaction with excess H2O2 to oxidize ascorbate in the absence of cellulose. Ascorbate is not a cosubstrate for the reaction leading to the scission of glucosidic bonds by LsAA9A.