The photophysical characteristics of diphenyl carbazide (DPC) have been investigated in various protic and aprotic polar solvents. Shifts in fluorescence spectra showed good linear fits with the E-T(30) polarity scale and the solvent polarity function Delta f. The emitter state is identified as having charge transfer character and is estimated to have a dipole moment of similar to 8.6 D. Excited state lifetimes determined from transient absorption and fluorescence lifetime studies match well. Triplet-triplet absorption and phosphorescence emission (at 77 K) have been characterized and the triplet state energy is estimated to be similar to 80 kcal/mol. Our experimental results show that DPC behaves more like a keto compound than a hydrazide derivative.