Steady-state absorption and femtosecond time-resolved spectroscopic studies have been carried out on astaxanthin dissolved in CS2, methanol, and acetonitrile, and in purified alpha-crustacyanin. The spectra of the S0 --> S2 and S1 --> S(n) transitions were found to be similarly dependent on solvent environment. The dynamics of the excited-state decay processes were analyzed with both single wavelength and global fitting procedures. In solution, the S1 lifetime of astaxanthin was found to be approximately 5 ps and independent of solvent. In alpha-crustacyanin, the lifetime was noticeably shorter at approximately 1.8 ps. Both fitting procedures led to the conclusion that the lifetime of the S2 state was either comparable to or shorter than the instrument response time. The data support the idea that dimerization of astaxanthin in alpha-crustacyanin is the primary molecular basis for the bathochromic shift of the S0 --> S2 and S1 --> S(n) transitions. Planarization of the astaxanthin molecule, which leads to a longer effective pi-electron conjugated chain and a lower S1 energy, accounts for the shorter tau1 in the protein.