Tetraphenylethylene (TPE) derivatives are ones of the most versatile building blocks showing aggregation-induced emission (AIE). However, their applications are limited by the photophysical and photochemical processes that occur in their excited state. Herein, we report a detailed study of the photochemical behaviour of a new TPE derivative with bulky terphenyl groups (TTECOOBu) in solvents of different viscosities and in a PMMA film. UV light irradiation shows an efficient photocyclization reaction, which produces a 9,10-diphenylphenanthrene (DPP) derivative photoproduct. The emission spectra of the irradiated samples show intermediate (∼420 nm) and final (∼380 nm) species. The photocyclization events are more efficient in environments of higher viscosities or rigidity. We show that in a photoirradiated PMMA film containing TTECOOBu, it is possible to etch a message for more than 1 year. The kinetics is dictated by the motions of the phenyl rings and is faster when their motions are precluded or inhibited. We also elucidated the femto- to millisecond photodynamics of the intermediate and final photoproducts and provide a full picture of their relaxation, with the latter in ∼1 ns at S1 and ∼1 μs at T1. We also demonstrate that the kinetics of the bulky TTECOOBu is much slower than that of the TPE core. Our results also show that both photoevents are not reversible contrary to the case of TPE kinetics. We believe that these results will shed more light on the photochemical behaviour of TPE derivatives and should help in the development of novel TPE-based materials with improved photostability and photo-properties.