A 3-dimensional model of lignin peroxidase (LiP) was constructed based on its sequence homology with other peroxidases, particularly cytochrome c peroxidase, the only protein with a known crystal structure in the peroxidase family. The construction of initial conformations of insertions and deletions was assisted by secondary structure predictions, amphipathic helix predictions, and consideration of the specific protein environment. A succession of molecular dynamics simulations of these regions with surrounding residues as constraints were carried out to relax the bond lengths and angles. Full protein molecular dynamics simulations with explicit consideration of bound waters were performed to relax the geometry and to identify dynamically flexible regions of the successive models for further refinement. Among the important functionally relevant structural features predicted are: (i) four disulfide bonds are predicted to be formed between Cys3 and Cys15, Cys14 and Cys285, Cys34 and Cys120 and Cys249 and Cys317; (ii) a glycosylation site, Asn257, was located on the surface; (iii) Glu40 was predicted to form a salt bridge with Arg43 on the distal side of the heme and was considered as a possible origin for the pH dependence of compound I formation; and (iv) two candidate substrate binding sites with a cluster of surface aromatic residues and flexible backbones were found in the refined model, consistent with the nature of known substrates of LiP. Based on these predicted structural features of the model, further theoretical and experimental studies are proposed to continue to elucidate the structure and function of LiP.