The two phosphoenzymes (E1P and E2P) of Na+,K+-ATPase were measured as ADP-sensitive and K+-sensitive fractions. The sum of these fractions was nearly 1 in the range of 50 to 1,200 mM NaCl. The effects of Na+ on the levels of E1P and E2P, on the rate constant of E2P leads to E1P transition (k2), on the rate constant of E2P dephosphorylation (k3), on the rate constant of E1P leads to E2P transition (k1) and on the apparent equilibrium constant between E1P and E2P (Kapp) were examined. k1 was found to decrease with increasing Na+ concentration, whereas k2 increased. Kapp was found to be directly proportional to the third power of Na+ concentration. k3 increased with increasing Na+ concentration and saturated at about 1 M NaCl. These results are consistent with a simple model in which ATP hydrolysis occurs through effectively only two phosphoenzyme intermediates in the absence of K+ and three sodium ions are discharged cooperatively from the enzyme during the E1P leads to E2P conversion.