This paper analyzes the thermodynamic feasibility of three reactions, one undesirable side reaction, and a flash separation for a water-splitting cycle. The thermodynamic feasibility of each reaction was analyzed using both an equilibrium constant based approach and through solution of the associated Gibbs free energy minimization problem. The thermodynamic feasibility of each reaction was determined at a variety of feed conditions, temperatures, and pressures. Future research will be conducted to determine optimal conditions at which to run the cycle to produce pure hydrogen and oxygen efficiently.