In the light reaction the energy is absorbed by chlorophyll. The absorbed energy is used in splitting the water molecule into its two components and releasing electrons (H2O⟶2H++O2+2e), this reaction is known as :
In the light reaction of photosynthesis, chlorophyll molecule absorbs light energy, results in the splitting of water molecules, results in the release of protons, electrons and nascent oxygen. This process is called Photolysis of water. It occur in the lumen of thylakoid.
So, the correct option is ‘photolysis of water’