The absorption and fluorescence spectra of diphenylbisanthene (DPB) in n-octane and benzene at 300 and 77 K have been investigated. The appreciable Stokes shift of the fluorescence band (180 cm^–1 in n-octane and 440 cm^–1 in benzene) points to the nonplanar character of the aromatic skeleton of DPB, which has been confirmed by results of the optimization of the molecule geometry by the AMI quantum-mechanical method. It has been found that spectral manifestations of the products of photoinduced transformations of DPB molecules are observed in the UV region (200–350 nm), and it has been shown that the observed photochemical process is two orders of magnitude less effective than for diphenylhelianthrene. On the basis of the experimental data and the results of the quantum-chemical calculations of the electronic spectra of molecules of DPB and endoperoxides (ZINDO/S method), it has been concluded that the end products of DPB phototransformations are its endobiperoxides in which —O—O— groups are added to the phenyl-substituted benzene rings of the aromatic skeleton.