Step 1: Definition of living fossil.
- A living fossil is an extant species that closely resembles species known only from the fossil record and has changed little over geological time.
Step 2: Sphenodon characteristics.
- Sphenodon (Tuatara) is a reptile from New Zealand.
- Morphologically very similar to its Mesozoic ancestors.
- Its physiology and structure remain largely unchanged.
Step 3: Comparison with other options.
- Archeopteryx: extinct fossil, early bird.
- Limulus: horseshoe crab, an arthropod, not a reptile.
- Dinosaur: mostly extinct.
Step 4: Evolutionary significance.
- Sphenodon provides insight into reptilian evolution and adaptation.
- Often used as a model for studying primitive reptilian features.
Step 5: Conclusion.
Hence, the living fossil among reptiles is Sphenodon.