  The leading- and higher-twist distribution amplitudes and light-cone wave
functions of real and virtual photons are analyzed in chiral quark models. The
calculations are performed in the nonlocal quark model based on the instanton
picture of QCD vacuum, as well as in the spectral quark model and the
Nambu--Jona-Lasinio model with the Pauli-Villars regulator, which both treat
interaction of quarks with external fields locally. We find that in all
considered models the leading-twist distribution amplitudes of the real photon
defined at the quark-model momentum scale are constant or remarkably close to
the constant in the $x$ variable, thus are far from the asymptotic limit form.
The QCD evolution to higher momentum scales is necessary and we carry it out at
the leading order of the perturbative theory for the leading-twist amplitudes.
We provide estimates for the magnetic susceptibility of the quark condensate
$\chi_m$ and the coupling $f_{3\gamma}$, which in the nonlocal model turn out
to be close to the estimates from QCD sum rules. We find the higher-twist
distribution amplitudes at the quark model scale and compare them to the
Wandzura-Wilczek estimates. In addition, in the spectral model we evaluate the
distribution amplitudes and light-cone wave functions of the $\rho$-meson.
