The photophysical behavior of the isomers of the anticoagulant drug warfarin in various solvents and solvent mixtures was investigated using absorption, H-1 NMR, and steady-state and time-resolved fluorescence spectroscopies in conjunction with B3LYP-based theoretical treatments. Complex absorption patterns were observed, indicative of the presence of different isomers of warfarin in the various solvents studied. In alkaline aqueous solution, the deprotonated open side form of warfarin is highly dominant and only one SO-S 1 singlet transition could be observed in the absorption spectrum centered at 320 nm. These observations were supported by theoretical density functional calculations (B3LYP) in which the geometries of nine isomers of warfarin were optimized and their respective eight lowest singlet and three lowest triplet excitation energy levels were predicted. Examination of the fluorescence excitation and emission spectra of the isomers in nonpolar and polar organic solvents showed the presence of the deprotonated open side chain form of warfarin in 2-propanol, ethanol, and acetonitrile. Time-resolved fluorescence experiments revealed a short decay time constant, tau(1), in all solvents studied while in more polar environments a second longer one, tau(2), was evident varying between 0.5 and 1.6 ns depending on solvent polarity. The variation of number and length of fluorescence lifetimes as a function of solvent environment has provided a tool for examining warfarin protein binding. Studies on the binding of warfarin to human serum albumin (HSA) have been undertaken, and different modes of binding were observed which are indicative of binding to the anion-selective Sudlow I and, second, a lower affinity mode of interaction.