High concentrations of ozone (O3) can have significant impacts on the health and productivity of agricultural and forest ecosystems, leading to significant economic losses. In order to estimate this impact under a wide range of environmental conditions, the mechanisms of O3 impacts on physiological and biochemical processes have been intensively investigated. This includes the impact on stomatal conductance, the formation of reactive oxygen species and their effects on enzymes and membranes, as well as several induced and constitutive defence responses. This review summarises these processes, discusses their importance for O3 damage scenarios and assesses to which degree this knowledge is currently used in ecosystem models which are applied for impact analyses. We found that even in highly sophisticated models, feedbacks affecting regulation, detoxification capacity and vulnerability are generally not considered. This implies that O3 inflicted alterations in carbon and water balances cannot be sufficiently well described to cover immediate plant responses under changing environmental conditions. Therefore, we suggest conceptual models that link the depicted feedbacks to available process-based descriptions of stomatal conductance, photosynthesis and isoprenoid formation, particularly the linkage to isoprenoid models opens up new options for describing biosphere-atmosphere interactions.