Ozone tolerance of tree species was determined by standard index of physiological damages and biochemical defense responses under short-term ozone exposure. At the end of 150ppb $O_3$ fumigation, photosynthetic characteristics and antioxidative enzyme activities were analyzed in the leaves of five species(Koelreuteria paniculata, Firmiana simplex, Styrax japonica, Fraxinus rhynchophylla, Viburnum sargentii). Injury index was determined by the effect of ozone on photosynthetic parameters and malondialdehyde(MDA) content, and tolerance index was calculated using the rate of increase in superoxide dismutase(SOD), ascorbate-peroxidase(APX), glutathione reductase(GR) and catalase(CAT) activities. Apparent quantum yield(AQY), carboxylation efficiency(Ce) and photo-respiration rate(PR) decreased in the leaves of five species with increasing ozone exposure time. These parameters were considered as an appropriate indicator for stress evaluation. Antioxidative enzyme activities showed various results depending on the tree species, exposure time, and enzyme types. SOD activity of K. paniculata increased with ozone exposure time, and that of F. rhynchophylla increased only after 6 hours of ozone exposure. CAT activity of $O_3$-exposed F. simplex was lower than the control. Based on standard index, ozone tolerance ability of five species was determined as two tolerant species(F. rhynchophylla > K. paniculata) and three sensitive species(S. japonica > F. simplex > V. sargentii).