A thermodynamic analysis is made of the process of hydrogen reduction of trichlorosilane in the presence of a residual quantity of water vapor. The equilibrium yield of silicon and silicon dioxide is determined as a function of temperature and trichlorosilane and moisture content in the Si-H-Cl-O system. It is established that the presence of moisture in the hydrogen does not lead to a decrease in the equilibrium yield of silicon. The optimally admissible moisture content, which does not lead to impairment of the structure of the polycrystalline silicon films being grown, is determined.